The only explanation for this valuation is that Rivian is pretty much exactly what people wanted in a Tesla pickup.
Rivian managed to build a car that people actually want. Their car is a really great pickup truck with all the stuff that people want in a utility vehicle (flexible storage space! air compressor! power outlets! easy to build out!)
And the Rivian looks close enough to a normal pickup that people aren't going to feel stupid driving them.
Nobody who wants a work / camping / towing truck is going to buy a Cybertruck. A cybertuck is a car for programmers who make too much money and want to feel like Robocop.
I think Rivians high valuation just shows that they managed to nail a market segment that Tesla floundered.
Rivian managed to build a car that people actually want. Their car is a really great pickup truck with all the stuff that people want in a utility vehicle (flexible storage space! air compressor! power outlets! easy to build out!)
And the Rivian looks close enough to a normal pickup that people aren't going to feel stupid driving them.
Nobody who wants a work / camping / towing truck is going to buy a Cybertruck. A cybertuck is a car for programmers who make too much money and want to feel like Robocop.
I think Rivians high valuation just shows that they managed to nail a market segment that Tesla floundered.