Tesla Effect works in electric car market

In the US market, the valuations of companies that are or are already engaged in the production of electric cars are absurd in many cases. After last year's IPO of Rivian, it was jokingly said that its valuation was one billion dollars for every car produced. It is about an entity that, without producing anything for a while, was worth more than Volkswagen. Its capitalization reached almost $150 billion.