Billionaire George Soros punishes Rivian

George Soros has bet on the car industry.

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

So he picked his winners and losers. First Soros bet on the upstart Rivian, the Chinese NIO (NIO)- Get a Free Report and, to a lesser extent, Lucid Group (LCDD)- Get a Free Report. But it seems he has changed his strategy, preferring to bet on the car manufacturers who have the resources to mass produce. This can be attributed to the changes he just made in his US equity portfolio in the third quarter.

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