Rivian vs Tesla: Who will be the next money-making machine?

Recently, the market has been buzzing about Tesla's robotaxi, but there is an undervalued player called Rivian that is worth paying attention to.

Two core points:

1️⃣ **The product line is about to turn around**
Rivian currently only has two models (R1T/R1S), each priced over $100,000. However, next year they plan to launch three new models, all starting at under $50,000—directly competing with the Tesla Model 3 and Model Y. It's important to note that 90% of Tesla's sales are supported by these two models. Once Rivian rolls out their more affordable models, their growth potential should not be underestimated.

2️⃣ **Valuation is ridiculously cheap**
Rivian's market value is less than 20 billion, but its PS is only 3 times; Tesla, on the other hand, is 16 times. The large gap is due to Tesla's robotaxi story backing it (with a potential space of 5-10 trillion USD), but Rivian is also spending money on AI and autonomous driving. A new Level 3 autonomous driving feature will be released next month.

If this launch event stands out, the capital market may rebrand Rivian from a "traditional car manufacturer" to an "AI company," resulting in huge valuation flexibility.

Conclusion: Compared to Tesla's overvaluation, Rivian indeed has room for underestimation. Multiple growth paths (product competitiveness + autonomous driving + AI reassessment) are worth paying attention to.