If we look at the financial reports of Rivian and Lucid on the first quarter of 2023, Lucid has a net loss of 780 millions. Rivian is even worse, encountering a net loss of 1.349 billions, while Tesla having a net income of 2.5 billions. Why are EV makers Rivian and Lucid still losing money? The major 6 reasons are High Initial Investment, Production and Scaling Challenges, Limited Market Penetration, Increasing Competition, Pricing and Cost Challenges, and Infrastructure Development.
