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Fortune
Fortune
Christiaan Hetzner

Elon Musk predicted EV startups Lucid and Rivian would both go bankrupt—at least one of them seems to be over the hump

Elon Musk Lucid Rivian RJ Scaringe Peter Rawlinson Tesla Inc.
Rivian founder RJ Scaringe (Credit: Alisha Jucevic—Bloomberg via Getty Images)

It’s being billed by investors as the tale of two EV makers. 

Armed with wealthy backers, Rivian founder RJ Scaringe and Lucid CEO Peter Rawlinson both floated shares in their car companies in the latter half of 2021 with the promise to follow in the footsteps of Elon Musk—only to falter right out of the gates. 

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