It’s a tough gig for electric automakers right now. Electric vehicle maker Rivian originally forecast it would produce 50,000 cars in 2022. Then it cut that production target in half to 25,000. And it still missed the target. Rivian produced 24,337 vehicles last year and delivered only 20,332.
Tesla, a rival of Rivian, also missed its production targets. Both companies saw their share prices plunge as a result.
Both companies are a stark reminder that disrupting the automotive industry is incredibly difficult. Even Tesla — which is largely seen as a success story — has struggled to stay afloat. In this episode of Angel Insider, Vin Narayanan and Allison Brickell discuss why the automotive industry is so hard to disrupt, what risks auto startups face, where driverless technology fits in, and more.
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