Billionaire George Soros punishes Rivian

George Soros is betting on the auto industry.

The billionaire continues to invest in this sector, which is in the process of abandoning gas cars in favor of electric cars, while public policies in Europe in particular provide incentives for green vehicles.

So he picked his winners and losers. Soros initially bet on upstart Rivian, China’s NIO (NIO) – Get a free report and to a lesser extent the Lucid Group (LCID) – Get a free report. But he appears to have changed his strategy, preferring to bet on automakers that have the capabilities to mass produce. This can be inferred from the changes he just made to his US stock portfolio in the third quarter.

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