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RE: LeoThread 2024-10-19 03:31

in LeoFinance • 16 hours ago

Elon Musk responds to calls for Tesla to buy Rivian

Tesla CEO Elon Musk responded to calls for his EV maker to buy competing startup Rivian, in what would be a monumental merger between two industry-leading companies.

Musk was in Philadelphia on Friday night for an event ahead of the U.S. presidential election as he was attempting to help former U.S. President Donald Trump swing Pennsylvania. The stop is one of several Musk has planned in the Keystone State.

#newsonleo #tesla #rivian

16 hours ago in LeoFinance by
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     16 hours ago  

    The event, while more focused on politics, was also met with questions about Tesla, Musk’s electric vehicle company.

    One attendee who was there to ask Musk a question pushed the CEO on why Tesla had not sought to buy Rivian, a competing automaker that has a solid consumer base, strong products, and an innovative CEO running the company but a shaky financial platform.

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       16 hours ago  

      Musk said:

      “I wish them the best. I hope they do well. The car industry is a very difficult industry. There’s only two U.S. car companies that haven’t gone bankrupt, and that’s Ford and Tesla. Rivian’s going to have a hard time. It’s insanely difficult to compete in the car industry. If it were not for two technology discontinuities, one being electrification and the other being autonomy, I think Tesla could not succeed without solving both.”

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