Elon Musk could not resist criticizing the upcoming public offering of shares of Rivian

Unofficial sources said yesterday that the American company Rivian, in its twelfth year of existence, is preparing to go public, which will estimate its capitalization at $ 80 billion. Elon Musk, who was directly involved in the formation of Tesla, could not refrain from sarcastic remarks to Rivian.

Image source: Rivian

According to the billionaire posted on his page in Twitter, Rivian should first release at least one production electric car for every billion in capitalization before planning to go public. The Rivian R1T electric pickups were delayed twice on their way to original owners, but they should now be released by September. It is unlikely that the placement of shares will take place earlier, but what will be the production volumes of electric vehicles of this brand is still difficult to predict. In fact, Rivian is intent on raising funds in the stock market to ensure the ramp-up of production of electric vehicles.

It is pertinent to recall that Tesla itself took seven years to its IPO, which took place in the summer of 2010, and at that time it was just beginning to master the release of the Model S sedan, but was already offering customers the first generation Roadster. The company’s business was deeply unprofitable until recently, but that did not stop Tesla from becoming the largest automaker in the world by capitalization by 2021. Perhaps Tesla’s long and difficult journey from a public offering to consistently generating profits and increasing production volumes made Elon Musk contemptuous of Rivian’s attempt to raise funds in the stock market.

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