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Rivian, the new power brand in the US, has notified car owners that it will delay delivery of its cars by a few months because of capacity problems, but the result may not be so satisfactory. It produced only 180 vehicles last month.

According to data released at its IPO, Rivian had nearly 50,000 orders for R1T and R1S as of the end of September, with another 100000 from Amazon, which will be delivered in the next 10 years, which is a strong endorsement. Amazon has a 20% stake in Rivian, and Rivian has arranged a separate production line for this purpose.

Tesla CEO Musk once said: "I hope that Rivian can achieve mass production and positive cash flow, this is the real test that the company is facing." Tesla is the only American car company that has achieved mass production and positive cash flow in the past 100 years, whether it's fuel or electric cars. " Judging from this notice, Rivian's production capacity has not improved and the risk of valuation is increasing.

People who focus on overseas investment markets may pay more attention to Rivian than people in the auto industry. The domestic market is more biased towards cars and SUV, while pickups and SUV have always been the favorite models of US consumers, with SUV accounting for half of the US market share and pickup with 20 per cent, according to GCBC, a car sales tracking website. And our consumption habits are temporarily big, Rivian has a total of two models, including R1T electric pickup truck and R1S electric SUV, which is the reason for ignoring Rivian in China.

In 2009, R.J. Scaringe, founder and CEO of Rivian, founded Mainstream Motors after receiving a doctorate in mechanical engineering from the Massachusetts Institute of Technology, which was renamed Rivian two years later. Unlike Tesla, who only began to deliver the first 10 vehicles in September, Rivian produced a total of 156e Rivian R1T electric pickup trucks by the end of October, mostly to Rivian employees. The corresponding market capitalization is quite astonishing. In January this year, Rivian was valued at $27.6 billion. When it went public in November, it quickly exceeded $100 billion. It took two days to surpass Ford and GM, and then surpassed Volkswagen to become the third largest automaker in the world, after Tesla and Toyota. Rivian finally ushered in a moment of glory.

Rivian has announced its capacity plan, which can reach 150000 vehicles in major factories by the end of 2023, with an annual capacity of 1 million by 2030. Without this capacity plan, investors have no reason to invest, and without the money, they will not be able to do so. The two complement each other. Rivian expects a loss of $1.28 billion in the third quarter of this year, while revenue will be between $0 and $1 million.

In the face of the huge new energy automobile capital market is a strong supporter, and in front of Tesla in the capital success story, capital and new power like a bloody shark. Every new energy car manufacturer imagines that it is the next Tesla, and investors are afraid that they will miss the next Tesla, so the high valuation of the new power has become the norm. Last year alone, Tesla's share price rose 700%. Become the world's highest valued carmaker in 2020. Even though we know that not every new power will become Tesla, the mainstream view on Wall Street is that the growth potential of Rivian is much greater than that of Tesla, and this signal will further stimulate domestic counterparts to move forward bravely.

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