In 2021, a young electric car company called Rivian sold shares for the first time. In two days it was worth more than Ford. But it was losing billions. What should it have done?
Harder version: read this lesson at C1 level →
Look at each word. Say what you think it means. Then tap the card.
Tap a card to see the meaning.
Write one word from the cards in each gap.
1. The shop will the sofa to your house on Monday.
2. This painting is a million euros!
3. Let’s the film — I need a drink.
4. The builders put their tools in the back of a white .
5. Buses are er than taxis.
6. My business is very good with numbers.
1. deliver · 2. worth · 3. pause · 4. van · 5. cheap · 6. partner
Read each part. Then answer the questions before you read the next part.
Rivian is an American company. It makes electric pickup trucks and SUVs in a factory in Normal, Illinois. Amazon gave Rivian more than 1.3 billion dollars and ordered 100,000 electric delivery vans.
In September 2021 Rivian made its first truck. In November 2021 it started selling shares to the public. At that time it had delivered only 156 trucks — and almost all of them went to its own workers.
But people were very excited. They hoped Rivian would be “the next Tesla”. After two days, the company was worth about 105 billion dollars — more than Ford or General Motors, which sell millions of cars every year.
True or false? Click your answer.
1. Rivian had delivered no vehicles at all when it started selling shares.
2. Most of the first trucks went to Rivian’s workers.
3. After two days, Rivian was worth more than Ford.
Making cars is very expensive. Rivian lost 6.75 billion dollars in 2022 and 5.4 billion dollars in 2023.
Rivian wanted to build a second, very big factory in Georgia. But in March 2024 it paused the Georgia factory. It decided to make its new, smaller and cheaper car, the R2, in Illinois. This saved more than 2 billion dollars.
In 2024 Volkswagen, the big German car company, became Rivian’s partner. It agreed to put up to 5.8 billion dollars into Rivian, and the two companies agreed to make software together. In January 2025 the US government agreed to lend Rivian about 6.6 billion dollars for the Georgia factory.
True or false? Click your answer.
1. Rivian made a profit in 2022.
2. Rivian stopped work on the Georgia factory in 2024.
3. Volkswagen agreed to put money into Rivian.
In 2025 Rivian delivered about 42,000 vehicles. It still lost money — about 3.6 billion dollars. In total, it has lost about 27 billion dollars since it started.
In 2026 Rivian changed its plan for Georgia. The factory will be smaller, and it should start making cars at the end of 2028.
On 9 June 2026 the first R2s went to customers. It is Rivian’s first car under 50,000 dollars. Rivian hopes to deliver 65,000 to 70,000 vehicles in 2026. Is it the next Tesla? Not yet. But it is still here.
True or false? Click your answer.
1. Rivian made money in 2025.
2. The R2 costs less than 50,000 dollars.
3. The Georgia factory is already making cars.
When we look back at the past, we often think about what was a good idea — and what was a mistake.
should have + past participle — it was a good idea, but it didn’t happen:
Rivian should have made a cheaper car sooner.
shouldn’t have + past participle — it happened, but it was a bad idea:
Investors shouldn’t have paid so much for the shares.
could have + past participle — it was possible, but it didn’t happen:
Rivian could have waited before building in Georgia.
would have + past participle — what you imagine you did in another situation:
In their place, I would have started with a cheaper car.
| Say | Meaning | Example |
|---|---|---|
| should have done | a good idea — but no | I should have saved more money. |
| shouldn’t have done | a bad idea — but yes | I shouldn’t have eaten so much. |
| could have done | possible — but no | We could have taken the train. |
| would have done | me, in another situation | I would have said no. |
Use the words in brackets.
1. I’m so tired. I to bed earlier. (should / go)
2. You me! I was at home all day. (could / call)
3. We so much money on the holiday. Now we have nothing. (shouldn’t / spend)
4. In your place, I the job. (would / take)
5. Rivian a cheaper car first. (should / build)
1. should have gone · 2. could have called · 3. shouldn't have spent · 4. would have taken · 5. should have built
Each sentence has one mistake. Say the correct sentence out loud, then check.
1. Rivian should have make a cheaper car.
2. I should of called you.
3. They could has waited.
4. Investors shouldn’t paid so much.
5. In their place, I would have went slower.
1. Rivian should have made a cheaper car. (past participle)
2. I should have called you. (we say “should’ve”, but we write “should have”, never “should of”)
3. They could have waited. (always have, never has)
4. Investors shouldn’t have paid so much. (you need have)
5. I would have gone slower. (go – went – gone)
Take your time. Short sentences are fine.
Tell me the story in your own words. Six or seven sentences is enough.
Make four sentences about Rivian: one with should have, one with shouldn’t have, one with could have, one with would have.
Think about a big decision in your life — a job, a home, a course, a purchase. What should you have done? What could you have done differently?
You are the boss of Rivian. A shareholder bought shares in 2021 and lost money. He is angry.
What do you say? What should you have done? What are you going to do now?