Rivian and Lucid are both down over 90% from their peak. Looking at their financials, Rivian seems like the one more likely to stick around. Lucid's gross margin is close to negative 100%, meaning they lose a dollar for every dollar in revenue before overhead. They had negative $5 billion in free cash flow on just $1.5 billion in revenue over the last 12 months. Their cheaper Cosmos model is delayed to 2027, so they are heavily reliant on Saudi funding to stay afloat. Rivian is in a better spot with a positive 2% gross margin and a partnership with Volkswagen providing capital. They delivered 12k vehicles last quarter compared to Lucid's 4k. Rivian looks like the safer bet to survive, but they still need to show consistent margin expansion and positive cash flow to justify their $21 billion market cap.