“As of October 31, 2021, we had approximately 55,400 R1T and R1S preorders in the United States and Canada from customers who each paid a cancellable and fully refundable deposit of $1,000. Based on our current production forecast, we expect to fill our preorder backlog of approximately 55,400 by the end of 2023.” Rivian.
“We are now expecting to produce 600,000 electric vehicles per year globally by end of 2023.”. Ford.
Ford is already selling Mach-E’s and adding F150 Lightnings in volume next year (75K+ pre-orders already). Oh it might just sell 5 million other vehicles a year at profit too (having made $5.7 billion net income YTD 3Q 2021, whilst Rivian revealed a $1 billion dollar loss in its IPO).
Sorry but the figures speak for themselves. US EV start-ups are trading at absurd valuations vs existing legacy EV producers like Ford who are already in the market selling EV’s.