Lucid went public with $4.5B raised and Rivian will soon with an IPO expected to pull in $8.4B.

Why is Rivian worth more?

Lucid has more proprietary tech, patents and years of in-house R&D going back to their early Formula E days. Rivian on the other hand does not and was even accused multiple times by Tesla for stealing 'trade secrets', IP and poaching.

With all Lucid has built I thought they would at least be closer to Rivians valuation.