Elon Musk Says Tesla Will Not Buy Rivian
Oct 24, 2024
Tesla CEO Elon Musk has clearly denied reports suggesting that Tesla might acquire Rivian. Although Rivian is regarded as one of the most well-known EV startups, Musk made it clear that Tesla has no interest in acquiring the company.
"Tesla will not buy Rivian," Musk said in an interview, putting an end to rumors of a potential acquisition. His comments suggest that Rivian faces a challenging path ahead, despite its early successes and the backing of a major investor like Amazon.
Rivian, which has already introduced its electric R1T pickup truck and R1S SUV, has struggled to scale production. The company has faced delays in delivering vehicles and has been unable to meet its production targets. Although Rivian initially made a strong start, bolstered by Amazon's significant investment and a successful IPO, it continues to struggle with production challenges and meeting customer demand.
In addition, Rivian must also compete with established automakers like Ford and General Motors.