Tesla Inc. TSLA co-founder Martin Eberhard, who has had a not-so-cordial relationship with Elon Musk, supplied his ideas on the brand new breed of electrical automobile makers in a current interview.
What Happened: Unlike tech firms, the auto trade shouldn’t be a “winner-take-all industry,” Eberhard mentioned in an interview with Business Insider. He reportedly mentioned he’s dissatisfied by sure firms akin to Lucid Group Inc. LCID.
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Newark, California-based Lucid is striving to lock horns with Tesla’s Model S with the Lucid Air, an identical electrical sedan, he mentioned.
Eberhard reportedly mentioned he labored for Lucid, when it was often known as Atieva in 2015, and left after simply six weeks as he was not a “big fan” of its CEO.
Impressed With Rivian: Eberhard, nonetheless, is extra impressed with firms akin to Rivian Automotive Inc. RIVN.
“Rivian has looked out there and said, ‘You know, the No. 1-selling vehicle in North America is the F-150 truck. So if we want to find a new market, that’s a lucrative place to work,'” Eberhard reportedly mentioned.
Incidentally, Rivian was the primary to launch an electrified pickup truck, forward of Ford Motor Co.’s F-150 Lightning EV. The EV startup, which started delivering the R1T EV pickup truck in late-2021, produced about 24,337 items and delivered 20,332 of these.
Eberhard’s sentiment echoes the views of Barclays analyst Dan Levy, who mentioned in a current word, “if we were to identify any of the start-up EWV automakers as the closest to Tesla, we believe it would be RIVN.”
Levy has an Overweight score on Rivian shares and a $28 worth goal.
Photo: Courtesy of Wikimedia Commons
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