$Ford Motor (F.US)$ is selling it's stake in Rivian to fund ...
$Ford Motor(F.US$ is selling it's stake in Rivian to fund it's own EV production. They own 12% of $Rivian Automotive(RIVN.US$, worth about $10 billion. Seems like the legacy manufacturers could make a buttload of money for shareholders by simply floating new EV IPO's that are nothing but a plan to eventually have an electric car company. Silly that Rivian, with no actual cars to sell, has a bigger market cap than Ford or $General Motors(GM.US$. If it's that easy to start an electric car company, then it begs the question, what's preventing anyone else from entering and taking Rivian's market share? Here come's $Apple(AAPL.US$, $Alphabet-C(GOOG.US$, $Meta Platforms(FB.US$, along with every other vehicle manufacturer.... Heck, I could see Deere and CAT having their own EV companies. Basically any company that's remotely attached to making things with wheels could start up an EV company and get a $100 billion valuation. Personally, I'm waiting for Mattel to come out with the new Big Wheel brand EV. It will be made of plastic and have a cool hand brake that can make you spin 180 degrees...you can even put a playing card in the wheels to make a clickity sound, since EV's are boringly silent. There's a whole market of ancillary products they can add that should make it a $trillion company, like those little streamers that hang off of handlebars...you could hang them off the sideview mirrors. Or maybe even a full size EV Tonka Truck? There's a trillion dollar market cap right there...
The reality is that any idea that keeps us sitting by ourselves in traffic is not a solution to global climate change. Europe and Asia are busy making efficient trains and bike highways that get people out of their cars. I spent some time in the Netherlands and never even got in a car....just a 5 minute bike ride to the train and I can get anywhere in Europe with my bike included. You know all those obese people waddling around the Walmart in the US? They don't have them in Europe. People are generally thin and fit. Think of how much better Tinder & Bumble will be if we all start riding bikes! No more gambling on someone who only posts photos from the chest up!
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Louou : Broke up as soon as it went public
barryallen22 : Ok
Cat army : Where did you find that Ford is selling its stake in Rivian
2znASYonpa : And the Netherlands are how big?
vk3XubZ0kD 2znASYonpa: Like 200 miles long x 160 miles wide? About the size of Southern California... Are you saying that it's not possible to have trains that cover that area? Funny...we had them a hundred years ago but the car companies bought the train companies and shut them down.
YCUMO : Awesome post.
I agree in large part - but the Netherlands is not a fair comparison. You can ride a bike from one end of the country to the other is about 45 minutes.
blacklemontea : The reason why Tesla is seeing so much success: if you are a wealthy liberal, you face a conundrum. You know all about climate change, you know its real, and you know you should be doing your part to alleviate it - but at the same time, you want to enjoy your wealth.
Solution: Buy a Tesla.
Then you can gladly, confidently and, most importantly, with good conscience, continue to consume conspicuously. You're all good as far as the green thing goes, because you drive a Tesla. Your part is done, you can now head from your McMansion to the airport, where you'll board a jet, without any thought whatsoever about climate change.
Alibabamascot : Agreed - 46% of all trips in the US are 3 miles or less
Hearts Gainer Alibabamascot: My point exactly. That's easily bikeable.
GROW sky : I like what is happening in places like the Netherlands, but it doesn’t compare well to a country the size of the U.S. we have issues even building high speed trains. What a mess it has been trying to build one between SF and LA. Estimated cost of $40B and the wealthy cities along the peninsula don’t want it in “their” backyard. The terminal in LA is not in a good area. It is a place where you probably don’t want to ride bike.