Billionaire George Soros punishes Rivian

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George Soros is betting on the auto industry.

The billionaire continues to invest in this sector, which is moving away from gas-powered cars in favor of electric cars, while government policies in Europe in particular are encouraging green vehicles.

This is how he chose his winners and losers. Initially, Soros bet on the upstart Rivian, the Chinese NIO (NIO) – Get a free report and, to a lesser extent, on Lucid Group (LCID) – Get a free report. But he seems to have changed his strategy and prefers to bet on the automakers who have the capabilities to mass produce. This can be deduced from the changes he just made in the third quarter to his US equity portfolio.

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