General EV Conversation
Lexus Fanatic
Joined: Sep 2010
Posts: 26,190
Likes: 4,379
From: Alberta
Nvidia went from $27 billion/year in revenue to $22 billion in one quarter. Lucid saw a healthy bump in sales 37% YoY but they didn't say anything about profit/loss. Not sure on Rivian but the stock is taking a 15% haircut in after hours.
edit - Rivian
edit - Rivian
Rivian (RIVN) stock tanked after the bell on Wednesday after the electric adventure vehicle maker reported mixed fourth quarter results, and production and profit forecast that missed Wall Street expectations.
Rivian also said it sees vehicle production for 2024 hitting 57,000 units, well below the 80K units expected. In terms of full-year profitability, Rivian said it sees an adjusted EBITDA loss of $2.70 billion vs. $2.59 billion (est.), with capital expenditure outlays hitting $1.750 billion vs. $2.37 billion (est.). Rivian said it would initiate a 10% staff headcount reduction plan, citing economic uncertainty.
Rivian stock fell over 15% in after hours trading.
For the quarter, Rivian report top-line revenue of $1.32 billion vs $1.25 billion (est.), with an adjusted loss per share of $1.36 vs. $1.33 (est.). On an adjusted EBITDA basis, Rivian reported a loss of $1.096 billion vs. $1.05 billion (est.), narrower than last year’s $1.46 billion loss.
Rivian also said it sees vehicle production for 2024 hitting 57,000 units, well below the 80K units expected. In terms of full-year profitability, Rivian said it sees an adjusted EBITDA loss of $2.70 billion vs. $2.59 billion (est.), with capital expenditure outlays hitting $1.750 billion vs. $2.37 billion (est.). Rivian said it would initiate a 10% staff headcount reduction plan, citing economic uncertainty.
Rivian stock fell over 15% in after hours trading.
For the quarter, Rivian report top-line revenue of $1.32 billion vs $1.25 billion (est.), with an adjusted loss per share of $1.36 vs. $1.33 (est.). On an adjusted EBITDA basis, Rivian reported a loss of $1.096 billion vs. $1.05 billion (est.), narrower than last year’s $1.46 billion loss.
Last edited by LeX2K; Feb 21, 2024 at 01:38 PM.
Rivian's still pretty bullish about having a gross profit by the end of the year. Will be interesting to see if they can pull it off. After hours surge in NVDA is quite nice, basically clawing back losses from earlier in the week.
Lexus Test Driver
Joined: Jan 2003
Posts: 5,059
Likes: 546
From: Maryland
More propaganda. Today I was at Tesla Fremont, there were hundreds of people picking up their orders, looking at cars. There were thousands of Tesla's waiting to be loaded on trucks. Doesn't look like a demand problem where I'm standing. Number one and number two best selling cars here doesn't require gas
Lexus Champion
Joined: Oct 2019
Posts: 19,948
Likes: 3,839
From: California
Not Model S’ there is a hold on those until they figure out the EPA issue with range. They haven’t been able to sell 2024 models and hope to open up sales in March. Probably not a big deal but many buyers waiting impatiently. Tesla should just reduce the EPA range of the Model S long range and be done with it so they can sell them again. They already reduced the Plaid range. I also read that the Model Y LR cars are on hold as well (but not sure how true that is).
As you already know, Tesla's bread and butter is the Y and 3. Yesterday I saw hundreds of them in the pickup area waiting for their owners
Lexus Test Driver
Joined: Jan 2003
Posts: 5,059
Likes: 546
From: Maryland
On the Model S forum they are saying it’s an EPA rating issue.
Honda Prologue first drives are starting to trickle out. Range/power estimates are nothing to write home about (212HP / 296 miles FWD or 288HP / 273 miles AWD), but charging speed seems like a miss at 155kW
https://www.theverge.com/24079132/ho...sions-hands-on
https://www.autoblog.com/2024/02/22/...e-first-drive/
https://www.theverge.com/24079132/ho...sions-hands-on
https://www.autoblog.com/2024/02/22/...e-first-drive/
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Lead Lap
Joined: May 2010
Posts: 4,074
Likes: 1,723
From: San Diego, CA
Haven't had the opportunity to watch the Honda Prologue video yet, but to the point on charging speed its charge curve that's far more important. Nominally faster peak charge rates can flatter to deceive if the rate can't be sustained for long before it falls off a cliff. Maybe the video gets into that, but the general point remains, focus on curve as much if not more than peak rate. High rates for a short burst make for good specs on paper but not necessarily faster overall charging speed.
Lexus Champion
Joined: Oct 2019
Posts: 19,948
Likes: 3,839
From: California
Haven't had the opportunity to watch the Honda Prologue video yet, but to the point on charging speed its charge curve that's far more important. Nominally faster peak charge rates can flatter to deceive if the rate can't be sustained for long before it falls off a cliff. Maybe the video gets into that, but the general point remains, focus on curve as much if not more than peak rate. High rates for a short burst make for good specs on paper but not necessarily faster overall charging speed.
Not very impressive power, but it's enough for the average driver, and it's not a crappy, dronny turbocharged four cylinder with a CVT, something that I hope to God I never have to experience again in my lifetime.
Since it's co-developed by GM, if it's anything like the Chevy Bolt, the driving experience will be pretty good
I think the influx of slower, more 'normal' EVs will be a net positive for adoption. Will get people interested at a lower price, help convince them that maybe they don't drive 500 miles a day as often as they think, and still enjoy the smooth acceleration that an EV offers.
Then they can buy some more performance oriented vehicles
Then they can buy some more performance oriented vehicles
Lexus Champion
Joined: Oct 2019
Posts: 19,948
Likes: 3,839
From: California
I think the influx of slower, more 'normal' EVs will be a net positive for adoption. Will get people interested at a lower price, help convince them that maybe they don't drive 500 miles a day as often as they think, and still enjoy the smooth acceleration that an EV offers.
Then they can buy some more performance oriented vehicles
Then they can buy some more performance oriented vehicles
Lexus Champion
Joined: Oct 2019
Posts: 19,948
Likes: 3,839
From: California
Just listen to the lady who behind the camera, who's owned a ton of Honda's
Last edited by AMIRZA786; Feb 22, 2024 at 09:47 AM.
Lexus Fanatic
Joined: Sep 2010
Posts: 26,190
Likes: 4,379
From: Alberta
Isn't this on GM's newest EV platform with their game changing battery packs?