Rivian, Lucid ‘Tracking Towards Bankruptcy’ If They Don’t Cut Costs, Says Elon Musk [VIDEO]

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The Tesla Owners Silicon Valley has shared part two of their exclusive interview with Elon Musk. The hour-long interview covers a range of topics, yet again.

“This is the second segment of a three-part series in which our club President John, Club Vice President Kelvin Gee, Tesla Owners Club My Tesla Adventure President Eli Burton, and Ryan Levenson from The Kilowatts got to sit down with Elon Musk at Gigafactory Texas,” reads the video description.

The club says “In Part 2, we pick up where we left off, closing out much of our conversation about how Tesla survived in the early days and slowly transition into questions about Elon himself, learning more about what he loves, what he hates, and what drives him.”

One section of the interview that is causing some head turning is when Musk said Rivian and Lucid are on track towards bankruptcy, if they do not cut costs. At just under the 11-minute mark of the interview, Musk says, “unless something changes significantly with Rivian and Lucid they will both go bankrupt. They are tracking towards bankruptcy. If this is an airplane, they’re going like that. Currently, they’re intersection with doom.”

“I hope they are able to do something. But unless they cut their costs dramatically, they’re in deep trouble and will end up in the cemetery like every other car company, with the exception of Tesla and Ford,” added

Later at the 27-minute mark of the interview, Musk reiterated that Rivian needs to “cut costs dramatically—or they’re doomed.”

Rivian recently increased prices of its vehicles and changed its reservations system, to only allow pricing of a vehicle when delivery nears, in a move to grapple with inflation, the global chip shortage and supply chain headwinds.

Check out the full interview below:

YouTube video