[sgrove]

I think the concern is that they've delivered zero vehicles (but even then as you say, with the caveat that they've delivered to employees).

I haven't been following Rivian closely, but I was quite impressed by their PR event with Youtube folks recently https://www.youtube.com/watch?v=KGqexebCcUo - it definitely seems like a real, capable vehicle. Add to that their orders from Amazon (and presumably others at some point), and it seems like a plausible company.

Now, whether they have the margins and cash reserves to handle volatile markets / logistical concerns to survive long enough to become a long-term player, I'm not sure.

[nojito]

They spend 1B per year and have 3B cash on hand.

They can survive for 3 years and sell zero cars.