⚡️Rivian vs Tesla - Retained Earnings/Accumulated Losses

Happy Monday, this is Electric Avenue. We track down the latest EV news stories for y’all like Bill Murray & Co track down ghosts. Call us the ghostbusters of e-mobility!

• 1 Pic🖼️: Rivian vs Tesla - Retained Earnings/Accumulated Losses

• 3 Links 🔗

• Meme of the week 🤡

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Let's dive in!

1 Pic🖼️

X user @alojoh created this interesting graph, comparing the cumulative Retained Earnings/Accumulated Losses of RIVIAN and TESLA.

Key takeaways:

• To date, RIVIAN accumulated losses total over $23 billion USD

• Tesla on the other hand never went beyond ~$8 billion USD in accumulated losses (inflation adjusted to today’s dollars)

• Rivian has been selling vehicles for 3.5 years (14 quarters) but has never generated a gross profit on vehicle sales, when excluding benefits from tax credit sales.

What do you guys think of Rivians financial performance compared to Tesla’s? Let us know in the comments.

3 Links 🔗

• Siemens downsizes charging business🔌: Siemens announced that it will cut roughly a third of the 1,350 jobs in it’s EV charging business. The background of the job cuts is a reduced focus on DC charging. The company is citing strong price pressures and limited growth in low-power AC charging as the reasons. (Link)

• Reserve your truck charging station 🚚 : Volvo Trucks has introduced an innovative booking feature to its Volvo Open Charge service, which allows transport companies to reserve public charging slots in advance to increase predictability and uptime. The feature is currently being tested by Arla and DFDS and is available via the Volvo Connect fleet management system in Sweden at 41 stations at Volvo Truck dealers OKQ8 and Skellefteå Kraft. (Link in SE)

• Price Registry for Public Charging Stations 🔎: The VDA and also media outlets like NextMove are calling for a public price register for EV charging by the German Federal Cartel Office —similar to what already exists for fuel stations—to bring long-overdue transparency to public charging. We believe this step is essential to drive fair competition and give EV drivers comparability in ad-hoc charging prices across charge point operators (both links in DE).

Most-clicked link last week: Was the four-part blog series by upstart e-roaming platform ENAPI about the industry and its principles (Link).

Meme of the Week 🤡

🤣

Reader Review of the Week

Selected ⚡️⚡️⚡️⚡️⚡️ Freakin’ awesome on ⚡️ DC Fast Charger Error Rates 🚨 and wrote:

“Yes, 97%+ uptime is not nearly enough. Just because EVSE reports it is on and ready, doesn't mean it is capable of delivering power. BTW, ChargerHelp! found another problem; EVSE incorrectly reporting their status. Some equipment reported they were working correctly when they weren't while some others reported they were unavailable when they actually could successfully charge!”

That's a wrap for this week! Let us know how you feel and leave some feedback (We read every single one of these 🙂 ):

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DISCLAIMER: None of this is financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. The Electric Avenue team may hold investments in or may otherwise be affiliated with the companies discussed.