$115 billion market cap Rivian aims to sell 54,000 EVs by 2023. $77 billion market cap Ford aims to sell 600,000 by 2023.

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by Historical_Job_8609

“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.

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“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).

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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.

 

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