Whatever your opinion of electric vehicles (EVs), Tesla, or even Elon Musk, most people concur

 It's a concept that has finally begun to gain traction, with almost every traditional

And most manufacturers pay attention to Elon Musk's guidance when they introduce new products and deal with problems.

Rivian and Lucid Motors, two of Musk's primary EV competitors, received a severe warning from him lately.

 Musk asserted that if they didn't start making adjustments to the way they manage their businesses

Although his projections first appear severe, they may be delivering some painful facts for Rivian and Lucid Motors.

Elon Musk can undoubtedly speak from experience because he has already gone through the difficulties of starting 

The Tesla CEO said in an interview with the Tesla Silicon Valley Owners Club that his rivals were experiencing severe financial 

According to Musk, Rivian and Lucid Motors "will both go bankrupt," as reported by Electrek.

Musk said, "I hope they can do something," in addition to his warning that wasn't meant to be excessively harsh. 

However, his opinions imply that both US-based electric vehicle companies must take extreme measures to reduce prices 

He further said that, with the exception of Tesla and Ford, other electric car manufacturers face

Early in the year, both Rivian and Lucid Motors increased the pricing of their vehicles. 

And according to Musk, doing so would "decrease the number of people who can buy" them by a factor of about ten.