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Tesla’s stock (NASDAQ: TSLA) experienced a loss of approximately $150 billion in market capitalization in early October 2023, following a public disagreement between President Donald Trump and CEO Elon Musk. Although the stock has made a slight recovery, it remains down about 6% since the end of May 2023. The company’s market share of U.S. electric vehicle (EV) sales fell from 75% in early 2022 to an estimated under 45% in Q1 2025.
Rivian Automotive (NASDAQ: RIVN) has captured only 2.9% of the U.S. EV market in Q1 2025, down from a peak of 5% in Q3 2023. Rivian is working on a more affordable SUV, the R2, which is set to debut in 2026 at approximately $45,000. The company plans to deliver 40,000 to 46,000 vehicles in 2025, a decrease from the 51,000 expected in 2024, amid a broader stall in the U.S. EV market.
Rivian currently has $8.5 billion in liquidity and is burning about $2 billion in cash flow annually, relying on partnerships and government loans to sustain operations. Investors remain cautious about Rivian’s high-risk potential despite possible future growth with the R2 model.
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