Becker Business: Rivian Motors + Tesla & Lucid – 11-11-25

Host: Scott Becker
Date: November 11, 2025

Episode Overview

In this episode, Scott Becker provides an update on three electric vehicle (EV) manufacturers: Rivian, Tesla, and Lucid, with a particular focus on Rivian’s recent business progress. The discussion highlights their year-to-date performance, strategic developments, and the broader challenges of scaling in the EV industry. Briefly, Scott also touches on Skydance’s earnings and ends with a personal shoutout.

Key Discussion Points & Insights

Rivian Motors: Progress and Partnerships

• Performance Surge:

  • Rivian is up about 31% year to date.
  • Reported $1.5 billion in revenues this past quarter.
  • Becker notes: “Which almost makes it a real car company.” (00:19)

• Strategic Improvements:

  • Rivian’s connection with Volkswagen is seen as pivotal.
  • Enhanced platform, distribution, and resources due to the alliance.
  • Increased sales, lower cost per unit – indicating operational maturity.
  • Quote:

    “They seem to be doing much better as they sort of connect themselves more fully to Volkswagen and have a better platform and better distribution and better resources. It just seems like they're getting better… their sales are up, their cost per unit are down." (00:28)

• Unexpected Growth:

  • Scott admits the scale of Rivian’s progress was surprising:

    “They're up about 31% year to date. I don't think I saw that coming, but I could see how the combination of alliance is helping them. And God bless them.” (00:50)

Tesla: Steady as She Goes

• Current Trajectory:

  • Up about 7.5%–8% year to date.
  • “They're plugging along pretty well.” (01:00)

• Elon Musk’s Leadership:

  • Musk’s bold vision continues to shape Tesla’s path.
  • Significant mention of Musk’s controversial compensation:

    “He's got this crazy pay package which he's got to get to the company, a huge market cap, about six to seven times what it is today to collect on a lot of it. But God bless him. Fascinating to watch.” (01:09)

Lucid Group: The Challenges of Scale

• Market Woes:

  • Down about 25% year to date.
  • Lucid exemplifies the difficulty of becoming a true mass-market automaker at low scale.

    “Lucid Group is proving the reality that is very hard to be a real car company at low scale.” (01:29)

• Future Uncertainty:

  • “We'll see if they could rebound or not. So that's what's going on with Lucid Group, those three companies.” (01:36)

Brief Mention: Skydance Earnings

• Skydance reported its first earnings, up 11.
• “The earnings weren't great, but they did show good promise for the fourth quarter outlook.” (01:38)

Notable Quotes & Memorable Moments

• On Rivian’s Coming of Age:

  “It had a billion five in revenues this past quarter, which almost makes it a real car company.” (00:17)

• On Strategic Alliances:

  “The real lesson of a company like Rivian…is they seem to be doing much better as they connect themselves more fully to Volkswagen and have a better platform and better distribution and better resources.” (00:22)

• On Tesla and Musk’s Incentives:

  “He's got this crazy pay package…a huge market cap, about six to seven times what it is today to collect on a lot of it.” (01:09)

• On Lucid’s Struggles:

  “…proving the reality that is very hard to be a real car company at low scale.” (01:29)

Timestamps for Key Segments

• Rivian Motors Update: 00:00–00:59
• Tesla Update: 01:00–01:28
• Lucid Motors Update: 01:29–01:38
• Skydance Earnings Brief: 01:39–01:46

Tone and Closing

Scott’s commentary is concise, analytical, and often light-hearted—punctuated by “God bless them” remarks showing a mix of admiration and bemusement at the EV sector’s ambition. The episode is a rapid summary valuable for business news followers, focusing on facts, performance, and market realities.

Summary prepared for listeners seeking a quick, insightful overview of Rivian, Tesla, and Lucid’s latest business trajectories.