Rivian Archives - Gizmochina

Say Goodbye to Driving: Rivian CEO Says Cars Will Soon Run Errands Without You

Joane — Mon, 08 Dec 2025 13:22:52 +0000

Rivian, a U.S.-based electric vehicle maker known for its premium electric trucks, SUVs, and delivery vans, has made a bold new claim about the future of driving. The company, which focuses heavily on advanced software and clean-energy technology, says its cars could become so autonomous that owners won’t even need to be inside them.

According to CEO RJ Scaringe, Rivian aims to reach this level of full driverless capability by 2030, allowing vehicles to run errands, pick up friends, and travel completely on their own.

Rivian R2

Steps Toward Full Autonomy

Scaringe explains that Rivian’s next major features include “hands-off everywhere” driving and point-to-point navigation similar to Tesla’s FSD. These systems will still require driver attention at first. But he believes that soon after, cars will no longer need monitoring. By 2028 or 2029, he suggests Rivian vehicles could complete solo trips while owners stay at home.

Why This Matters

Robotaxis like Waymo already drive without humans in certain cities, showing how quickly the field is advancing. Driver-assist systems such as GM’s Super Cruise and Tesla’s FSD (Supervised) allow hands-free driving but still depend on human supervision.

The challenge now is to make fully driverless technology safe, affordable, and available in everyday cars. Whoever achieves this first will gain a huge advantage, giving people extra time to rest, work, or relax while commuting.

AI-generated Image

Tesla’s Driverless Claims

Tesla CEO Elon Musk is also pushing hard toward this goal. According to Reuters, Tesla is testing fully driverless Model Y vehicles in Austin and aims to deliver the first units by June. Musk says these cars will operate with no driver involvement. Further reports say that Tesla will soon launch unsupervised FSD in Austin, allowing vehicles to navigate without human monitoring. These updates show that Tesla remains a major competitor in the race toward full autonomy.

Major Challenges for Autonomous Cars

Developing safe and reliable driverless cars has proven far harder than early predictions suggested. Many challenges remain, including safety validation, rare road scenarios, and regulatory approval. Still, rapid progress in AI is pushing the industry forward.

Old rule-based approaches are being replaced with AI models that learn, adapt, and generalize better. With Rivian, Tesla, GM, and Waymo all improving their autonomous systems, the dream of personal driverless cars is closer than ever, though not guaranteed.

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Rivian Announces March 7 as the Reveal Date for the New R2 Electric SUV

Anubhav — Tue, 06 Feb 2024 01:26:32 +0000

March 7 will mark a key day for Rivian, the electric vehicle innovator based out of California, as it pulls the curtain back on its latest endeavor, the R2 electric SUV. This reveal comes over two years after the debut of its initial offerings, the R1T pickup and the R1S SUV, setting the stage for Rivian’s ambition to solidify its reach in the electric vehicle sector.

The R2 is rumoured to be priced lower than the R1T and R1S

Rivian’s journey began with the R1T and R1S, vehicles that combined uniqueness with a fun driving experience but carried a price tag starting at over $73,000, making them a dream beyond the reach of many. In contrast, the R2 series aims to be a game-changer by targeting a more expansive audience with a more palatable price point envisioned between $45,000 and $50,000.

The upcoming R2, a mid-size SUV or crossover, will look to challenge the likes of the Tesla Model Y, Hyundai Ioniq 5, and Kia EV6. Rivian’s strategy is clear: tap into America’s crossover craze to compete in a segment where the Model Y has seen significant success. The R2’s potential to disrupt this market will hinge on several factors, including its price, range, fast charging capabilities, and Rivian’s capacity to meet demand.

Rivian’s commitment to making electric vehicles more accessible is evident in its plans to produce the R2 series at a new $5 billion facility in Georgia, supplementing its production capabilities beyond its original plant in Normal, Illinois. Moreover, embracing Tesla’s NACS charging connector for the R2 models underscores Rivian’s forward-thinking approach, ensuring compatibility with an extensive network of charging stations. Will the R2 carve out a niche in the competitive electric SUV market? Only time will tell, but the anticipation is undeniably high.

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Key Apple Employee Moves Over to Rivian’s Automotive Division

Anubhav — Mon, 29 Jan 2024 15:56:49 +0000

Apple has recently witnessed a change in its leadership dynamics, with DJ Novotney, a name synonymous with Apple’s groundbreaking products like the iPhone and iPad, transitioning to a new role at Rivian Automotive. Having spent nearly a quarter of a century at Apple, Novotney has been a pivotal figure in the company’s journey. From playing a crucial role in the development of iconic devices such as the iPod and iPhone to pioneering efforts in Apple’s electric car ambitions, his expertise has been a cornerstone of Apple’s success. His decision to join Rivian as a senior vice-president of vehicle programs indicates a strategic pivot in his career, aligning with the growing momentum in the EV industry.

DJ Novotney brings a lot of product development & engineering experience to the table

Rivian, known for its electric SUVs and pickup trucks, considers Novotney’s addition a significant boost. His expertise in product development and engineering will be instrumental as Rivian strives to carve out a substantial space in the EV market, challenging established players like Tesla. Novotney’s role at Rivian will encompass leading product management, underlining his critical influence in shaping the future of EV technology.

Rivian R1t

This move, where talents are increasingly drawn towards companies making strides in sustainable technology, is nothing new too. As the world gravitates towards eco-friendly transportation solutions, experienced executives like Novotney are finding new places to apply their skills and lead innovation.

For Apple, Novotney’s exit is part of a series of high-profile departures, signaling a phase of transition for the tech giant. However, Apple’s history of resilience and its culture of innovation suggest that the company is well-equipped to navigate these changes. As for Rivian, Novotney’s arrival marks a new chapter, potentially accelerating the company’s journey in the competitive and rapidly evolving world of electric vehicles.

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Rivian Gears Up for Exciting R2 Reveal in March

Anubhav — Thu, 25 Jan 2024 02:49:58 +0000

Electric vehicle enthusiasts, you have to keep your eyes peeled this March! Rivian, the innovative EV startup, seems to be on the verge of officially unveiling its latest electric car, the R2 series. After making waves with the robust R1T pickup and the sleek R1S SUV, Rivian is now hinting at something smaller and more affordable with the R2.

The R2 series also includes an SUV set to launch in 2026

Recent buzz comes from a Laguna Beach City Council document, which hinted at a grand “worldwide product launch event” planned by Rivian in a public park. The real kicker? A diagram labeled “Rivian R2 Launch” was part of this document. While Rivian is keeping mum about the details, this find is sparking curiosity and excitement among EV fans.

Rivian R1t

The R2 series, as per Rivian’s CEO R.J. Scaringe, includes an SUV set to launch in 2026 with an expected price tag of around $50,000. This puts it in the more affordable range compared to its predecessors. Not just that, but it’s also smaller, making it an intriguing option for those who find the R1 series a bit too bulky for their taste.

Rivian’s plan to build the R2 at its new plant in Georgia is another point of interest. This move might indicate a strategic shift towards more accessible electric vehicles, widening Rivian’s appeal.

Though the official announcement is still shrouded in mystery, the company’s withdrawal of its request for the park event following the leak suggests that big news is indeed on the horizon. This potential reveal could be a game-changer in the EV market, especially for those looking for an eco-friendly ride that doesn’t break the bank.

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Rivian Smashes Records with Q4 2023 EV Production and Innovation Boom

Anubhav — Wed, 03 Jan 2024 03:12:31 +0000

Rivian has been making headlines recently with its impressive production and delivery numbers for the year 2023. The company, known for its innovative battery electric vehicles (BEVs), has shown remarkable growth, especially in the fourth quarter of 2023. In this quarter alone, Rivian produced a record-breaking 17,541 BEVs at its Normal, Illinois facility, marking a 75% increase from the previous year. This achievement is significant, not just for Rivian but for the electric vehicle industry as a whole, demonstrating the increasing demand and capability for electric vehicle production.

Rivian’s stock, however, experienced a slight decline during this period

However, despite the increase in production, Rivian’s vehicle deliveries in the fourth quarter, totaling 13,972 units, didn’t surpass the record set in the third quarter of 2023, where they delivered 15,564 units. This discrepancy raises questions about whether the issue was related to demand, which is a critical factor for both the company and its investors. Rivian’s stock also experienced a slight decline, trading around $21 per share.

Over the course of 2023, Rivian’s growth was even more evident. The company produced over 57,000 electric vehicles and delivered more than 50,000. These figures are more than double the numbers from the previous year, highlighting Rivian’s rapid expansion and its increasing role in the electric vehicle market.

Rivian’s lineup includes the R1T pickup, the R1S SUV, and the EDV commercial vans, primarily for Amazon. While the company didn’t break down the numbers for each model, the collective success of these vehicles indicates a strong market presence.

Another significant development for Rivian in 2023 was the introduction of a new 400-mile Max Pack battery option, offering customers even more range than the standard 350-mile Large Pack option. This innovation is likely to attract customers looking for long-range electric vehicles, further cementing Rivian’s position in the market.

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Rivian to Introduce Cost-Effective Battery Pack in 2024, Aiming to Lower R1 Series Prices

Anubhav — Wed, 06 Dec 2023 02:49:27 +0000

Rivian, a prominent name in the electric vehicle (EV) industry, is set to make significant strides in battery technology, heralding a potential shift in the EV market dynamics. Claire McDonough, the company’s Chief Financial Officer, recently revealed plans to introduce a new battery pack for its R1 series vehicles in 2024. This development, highlighted in a Barclays interview, signals a strategic move by Rivian to enhance its product offerings.

Rivian is trying to blend innovation and affordability for the new battery

The new battery pack, distinct from the Standard pack also set for a 2024 debut, represents a breakthrough in Rivian’s design and manufacturing approach. McDonough emphasized the simplified structure of this battery, which is expected to be lighter, cost-effective, and easier to produce. Such innovations are not just technical achievements but also strategic levers that could reshape Rivian’s market position.

Rivian’s approach to battery technology brings to light a crucial aspect of the EV industry: the balance between innovation and affordability. With the Standard pack slated to bring the starting price of R1 vehicles to the low $70,000 range, the new battery pack might further reduce costs. This price reduction, potentially dipping below $70,000, opens the doors to a broader consumer base, making electric mobility more accessible. When Rivian enters that segment, it will be hard for fellow competitors to keep up with the premium EV niche that the company is trying to carve out for itself.

Furthermore, McDonough’s mention of a temporary halt in assembly lines in the second quarter of 2024 for the integration of these new batteries indicates Rivian’s commitment to seamless innovation. The plan to introduce three different battery packs, two drive units, and a new network architecture speaks to a future where customization and consumer choice are paramount in the EV market. That market will be saturated soon, as other companies are trying to expand in some capacity. For instance, Tesla is expanding its charging network throughout the states, and that is just one of many instances. Only time will tell what the future holds for Rivian in such a space.

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Rivian is Offering a Complimentary Charger and Installation Credit with R1T Purchase

Anubhav — Tue, 21 Nov 2023 15:15:43 +0000

Rivian, a rising star in the electric vehicle (EV) industry, is introducing an enticing offer for its R1T electric pickup truck. In a move to boost sales and attract customers, the company is now offering a free Level 2 wall charger, along with a $2,000 installation credit, for those who choose to buy a ready-to-ship R1T from their inventory. This initiative not only highlights Rivian’s commitment to enhancing customer experience but also reflects a growing trend in the EV market to provide added value through such incentives.

The charger is normally priced at $800

The offer, which is only valid until the end of the year, is exclusively for Rivian’s R1T models that are immediately available for delivery. This approach is particularly appealing for customers looking to bypass the longer wait times associated with custom-ordered vehicles. Typically, a custom-built R1T would take about four months to deliver, whereas vehicles from Rivian’s inventory are available much quicker, sometimes within a week.

The free charger provided by Rivian, usually priced at $800, is capable of delivering up to 11.5 kilowatts of power. This efficiency is significant for R1T owners, enabling them to charge their vehicles at a rate of up to 25 miles per hour of charging. The $2,000 installation credit, managed through Rivian’s partner Qmerit, covers a substantial part of the installation costs, though customers are liable for any expenses beyond this amount.

This strategy is not unique to Rivian. Earlier in the year, Hyundai launched a similar promotion for its EV models, offering a free Level 2 charger and an installation credit, albeit on a smaller scale. Such tactics are becoming more common as EV manufacturers seek to stand out in an increasingly competitive market.

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Rivian Secures Massive Land Deal in Georgia for R2 Series Electric Vehicles

Anubhav — Tue, 14 Nov 2023 02:21:21 +0000

Rivian, an emerging electric vehicle (EV) manufacturer, has recently marked a significant milestone in its growth trajectory. The company secured a massive land deal in Georgia for constructing a new plant dedicated to its R2 series of electric vehicles. This expansion represents Rivian’s ambition to scale up its operations and solidify its position in the competitive EV market.

The company is looking to attract investments for future projects

The acquisition of this land is more than just a physical expansion; it signifies Rivian’s commitment to innovation and sustainability. The R2 series, expected to be produced at this new facility, highlights Rivian’s focus on developing vehicles that blend efficiency, performance, and eco-friendliness. This move also reflects the broader industry trend towards electrification, as major automakers and new entrants alike shift their focus to electric vehicles.

Georgia’s welcoming business environment and its strategic location have likely played a key role in Rivian’s decision. The state has been positioning itself as a hub for EV manufacturing, attracting investments and fostering a supportive ecosystem for companies like Rivian. The new plant is expected to create numerous jobs and contribute significantly to the local economy, while also bolstering the United States‘ position in the global EV market.

As Rivian prepares to embark on a new chapter, the company faces the challenge of balancing rapid growth with the high expectations of consumers and investors. The EV market is rapidly evolving, with increasing demand for innovative and sustainable transportation solutions. In this context, Rivian’s Georgia plant is not just a manufacturing facility; it’s a statement of the company’s vision.

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Rivian Makes its Electric Van Available Commercially to All Other Companies

Anubhav — Wed, 08 Nov 2023 15:06:12 +0000

Imagine a world where delivery vans glide through city streets like silent superheroes. Well, meet Rivian’s all-electric van—a game-changer that’s now available for anyone who wants a greener delivery fleet. Amazon, step aside; this van is open to all.

The company has ended its exclusivity contract with Amazon

What’s It Called? Say hello to the Electric Commercial Van (ECV). It’s like a friendly handshake. Forget the old name (Electric Delivery Van or EDV)—we’ve got a fresh one now. But don’t worry, the “Delivery” vibe still hangs around in the van’s different versions.

Picture two siblings, both front-wheel-drive champs, powered by Rivian’s magic electric motor. They’re cut from the same cloth but wear different outfits. Here they are, listed below:

Delivery 500: The little guy zips around with a 161-mile range on a full charge. Need to haul stuff? No problem—it can carry up to 2,734 pounds. Think of it as a sturdy workhorse. And its cargo space? 487 cubic feet!

Delivery 700: The big sibling. It’s got a 153-mile range, which ain’t too shabby. Payload capacity? A respectable 2,513 pounds. But here’s the cool part: it’s longer, wider, and roomier. Think gentle giant. Its cargo volume? A whopping 652 cubic feet. And the price tag? $87,000.

Now, about that battery—it’s like the van’s core. Rivian’s keeping it mysterious. But we know it’s a lithium iron phosphate (LFP) battery. Charge it up, and it’s ready for action. No worries about it losing steam—it’s built tough.

The Journey Ahead: Remember when Amazon snagged these vans? They ordered 100,000! Now, 10,000 ECVs roam the roads, delivering packages and smiles. Europe got a taste, but the U.S. devoured most. And guess what? Rivian’s sticking to its pact with Amazon while welcoming new partners.

So here’s to the ECV—a promise of cleaner skies and quieter streets. RJ Scaringe, Rivian’s CEO, says it best: “Let’s cut emissions, one electric van at a time.” Amazon, Rivian, and the road ahead—they’re all part of this journey.

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Rivian Ends Free Charging, will Introduce Pricing Plans for Customers Soon

Anubhav — Tue, 31 Oct 2023 14:06:13 +0000

Rivian, the electric vehicle (EV) manufacturer, has recently notified its customers that free charging on its Rivian Adventure Network (RAN) will soon be a thing of the past. Starting in early November, all RAN charging points will no longer be free, and billing will be initiated. Although specific price details are yet to be disclosed, Rivian assures that the user experience will remain unchanged, with charges automatically billed to Rivian accounts, much like Tesla’s Supercharging network.

The changes will be incorporated in early November

The timing of this announcement seems to highlight a larger story: Rivian’s struggle to keep pace with its ambitious promises. When RAN was announced in 2021, Rivian promised that by the end of 2023, it would host over 3,500 individual fast-charging stalls and more than 600 sites in the U.S. and Canada. As of now, the actual number of DC fast charging sites is approximately 60, exclusively in the U.S.

So, what does the end of free charging signify? For one, it could be an indicator that Rivian is adjusting its business model to generate revenue from its infrastructure, perhaps as a way to speed up the expansion of RAN. With free charging, the incentive for Rivian to invest in its network may have been diminished. Charging fees could serve as a new income stream that helps Rivian fulfill its original promises.

This move also aligns Rivian more closely with the broader EV market. It was previously announced that Rivian would eventually open up its RAN to other brands, offering special rates for Rivian vehicle owners. The implementation of fees may be a precursor to this planned diversification.

While Rivian’s charging network may still be in its nascent stage, the end of free charging could be a strategic adjustment, perhaps even a necessary one, to keep pace with the fast-moving EV market. Rivian appears to be setting the groundwork for long-term sustainability, but only time will tell if this change will help the company reach its lofty goals.

Interestingly, Rivian is also shifting to a new charging standard in 2025, adopting Tesla-developed North American Charging Standard (NACS) plugs. This could signal a broader strategy of compatibility and market entry, as Rivian looks ahead to a hopefully promising future.

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The Hidden Costs of Rivian’s Record-Breaking Quarter with over 15,000 Deliveries

Anubhav — Tue, 03 Oct 2023 01:39:54 +0000

Rivian has become the talk of the town with its Q3 2023 performance, breaking its own records in vehicle production and deliveries. While these numbers show promise in the electric vehicle (EV) sector, a closer look reveals challenges that can’t be ignored.

Rivian manufactured over 16,000 EVs in Q3 2023

In the third quarter of 2023 alone, Rivian manufactured 16,304 electric vehicles—a staggering 121% increase compared to the same time last year. Notably, the company managed to deliver 15,564 of these vehicles, marking a year-over-year growth of 136%. Sounds impressive, right?

However, financial stability remains a significant roadblock for the EV startup. According to the Wall Street Journal, Rivian has already burned through half of its $18 billion cash reserve. Moreover, the company recorded a loss of about $33,000 per truck sold in the previous quarter. These figures suggest that the company’s rapid expansion is not without its downsides.

Rivian’s portfolio currently includes three major models: the R1T pickup, R1S SUV, and a range of commercial vans primarily aimed at Amazon. While Rivian hasn’t broken down the sales numbers for each of these models, the losses hint at a high production cost, likely cutting into the profitability of each model.

This year, Rivian aims to produce around 52,000 vehicles, according to their latest guidance. Given their Q1-Q3 2023 performance, with more than 39,000 vehicles produced and 36,000 delivered, reaching or even surpassing this target seems plausible.

Yet, questions linger on whether Rivian can sustain its operations financially, especially considering the current cash burn rate. The company will release a comprehensive financial report for Q3 2023 on November 7, which could provide further insights into this situation.

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Rivian is Expanding its EV Charging Network in Europe

Anubhav — Fri, 15 Sep 2023 03:20:42 +0000

Rivian, the electric vehicle manufacturer known for its outdoor-centric ethos, is putting a spin on eco-tourism by amplifying its EV charging infrastructure. With the recent rollout of charging stations along the Blue Ridge Parkway, the brand is making strides to ensure adventurers don’t have to compromise on the range for a view.

Rivian is looking to eradicate ‘range anxiety’ for long-distance travel

Blue Ridge Parkway, with its stunning vistas and untouched wilderness, has long been a travel bucket-list item for those in the United States. However, the lack of adequate charging facilities has been a hurdle for electric vehicle enthusiasts—until now. Rivian’s expansion aims to quash any lingering ‘range anxiety,’ especially in areas that aren’t typically flush with charging options.

The company has launched 30 DC fast charging stalls distributed across five stations, extending from Front Royal and Waynesboro in Virginia to Blowing Rock in North Carolina. For those who prefer to bask in the area’s natural beauty a little longer, Rivian has thoughtfully added AC chargers to its Roanoke and Meadows of Dan stations.

The inclusion of pull-through trailer access at these DC fast chargers signals Rivian’s intent to cater to the camping and trailer-towing crowd. A 20-minute pitstop at one of these stations will recharge a Rivian for up to 140 miles, offering ample opportunity to explore one of the most visited national parks in the U.S., the Great Smoky Mountains, situated at the end of the Blue Ridge Parkway.

This move comes on the heels of Rivian introducing its R1T Dual-Motor Max Pack, which boasts an impressive EPA-rated range of 410 miles. Although it still falls short of covering the parkway’s 469 miles in one go, Rivian’s thoughtful positioning of its new charging hubs ensures that your adventure won’t be cut short.

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Rivian Stock Surges After Strong Q2 Performance and Short Squeeze

Anubhav — Wed, 12 Jul 2023 01:25:57 +0000

Rivian Automotive, the electric vehicle (EV) manufacturer, has experienced a remarkable turnaround in its stock performance after a period of decline. Since its record-breaking $11.9 billion initial public offering (IPO) in November 2021, Rivian stock (RIVN) had been on a downward trajectory, hitting a low of $12.04 on April 26, 2023. However, recent developments have given the company a much-needed boost.

Rivian Analyst stated that bad times are now behind the company

The turning point came in early July when Rivian announced its outstanding performance in the second quarter of 2023, marking the best quarter in the company’s history. With production figures of 13,992 vehicles and 12,640 deliveries, Rivian reaffirmed its annual production guidance of 50,000 units. These positive results have propelled the stock to a significant increase of almost 90% over the past nine trading sessions. On Monday, Rivian closed at $25.51, nearly double the closing price of $13.45 on June 26.

The reaffirmation of delivery goals has also contributed to increased investor confidence, leading to an upgrade in the price target by Wedbush Securities from $25 to $30. Analyst Dan Ives expressed optimism, stating that Rivian has finally turned the corner and that the worst is likely behind them.

While the current stock price remains far below its IPO high, the recent growth indicates a positive trend for Rivian. The surge in stock value can also be attributed in part to a short squeeze, where investors who had bet on the stock price falling are now forced to buy shares to cover their positions. Short interest on Rivian currently sits at 12.34% of the float, leading to short covering as the stock price rises.

Options trading on Rivian has also surged, with 831,000 contracts traded on Monday, twice the average daily volume. Investors have been purchasing “super short-dated calls,” driving further upward momentum for Rivian shares. If the company continues to deliver on its promises and navigate the EV market, stakeholders will most likely monitor its progress and the potential for further stock value appreciation. The company is also in talks of manufacturing an electric bike, we’ll see how that goes as well.

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Rivian Seeks to Remove Exclusivity Clause from Its Deal with Amazon for Electric Delivery Trucks

Sean — Tue, 14 Mar 2023 10:03:49 +0000

Rivian is apparently in discussions with Amazon to make changes to its exclusivity clause in its deal for electric delivery trucks. The EV maker is seeking to adjust the exclusivity deal to bring in new customers. So let’s have a look.

A company spokesperson stated earlier this week that it is seeking to remove the exclusivity part of the agreement with the e-commerce giant. This would allow it to bring in new customers and clients that will enable it to ramp up production of its vans and its R1 series of pickup and SUV models. Furthermore, the brand is even working on a successor to the R1 series with the R2 model.

However, Rivian is still in need of money and the company is currently planning to raise 1.3 billion US Dollars. This would be done by a sale of convertible notes to help fund the R2 development and its subsequent launch. The company’s spokeswoman Marina Norville said in a statement that the company’s relationship with Amazon will still go strong and remains positive. She stated that “We continue to work closely together, and are navigating a changing economic climate, similar to many companies”.

For those unaware, Rivian and Amazon had entered into an agreement back in 2019 which would have the former deliver 100,000 electric trucks to the e-commerce giant. With these new electric delivery trucks, Amazon began delivery its packages with the new EVs and Rivian revealed last month that its vans have delivered over 10 million packages since its initial roll out.

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EV Maker Rivian May Have an E-bike Under Development

Anurag — Mon, 06 Feb 2023 14:49:45 +0000

If you follow up with Electric vehicles, you must have heard of Rivian. The American EV manufacturer is known for its powerful electric trucks (you might have seen videos of them pulling semis and everything). Now, it seems the company is planning to foray into a different vehicle category. According to a report, Rivian is developing an electric bike.

As per a Bloomberg report, Rivian’s CEO RJ Scaringe told employees of the project during a company-wide meeting that the automaker has a “small group” of engineers working on a bike. While it’s unclear if Scaringe was talking about an e-bike or an electric motorcycle, he has teased an entry into the e-bike segment in the past. The company even has patents for e-bike designs and components.

The CEO has previously hinted at the possibility of an e-bike at a conference in October, stating that the automaker is ambitious to move into micromobility. Due to lower regulatory hurdles, Rivian’s electric bicycles could be launched into the market sooner in addition to its larger electric vehicles. The company will join automobile brands like Porsche in expanding into the electric bicycle market with the launch of its first e-bike.

The news that Rivian may have an e-bike in the works comes the same week that the company laid off six percent of its workforce for the second time in less than a year. The layoffs represent major restructuring, with the company now planning to refocus itself on scaling production of its R1T and R1S EVs.

Recently a lot of car makers have started to try their hands on e-bikes. We have seen big names like Porsche, Mercedes, Jeep, GM, and Hummer entering the category but they are yet to find any notable success.

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Rivian gets $1.5 billion tax incentives to build production facility in Georgia

Jeet — Thu, 05 May 2022 07:50:14 +0000

Rivian Automotive, a company making electric pick-up trucks, will be receiving around $1.5 billion in state and local incentives to build a manufacturing facility near Atlanta, bolstering the company’s production efforts.

The incentive package announced by Georgia is the biggest in Georgia’s history. The Georgia Department of Economic Development says that it consists of tax credits, abatements, and subsidies like site preparation and job training support from the state.

Rivian R1T

The company will receive $476 million in statutory tax credits if it fulfills the promise to create a total of 7,500 jobs by the end of 2028. If it doesn’t, there are clawbacks to protect the taxpayer, said Pat Wilson, Georgia’s commissioner of economic development.

It will get $288 million in discretionary spending in the form of site preparation and job training programs. Tax abatements from the four counties hosting the plant make up the rest of the package — about $700 million over 25 years.

Rivian has been struggling to ramp up production of its vehicles at the company’s existing plant in Normal, Illinois, because of the supply chain issues. The new production plant in Georgia will be made at an estimated budget of $5 billion.

It will help the company in its ambitious growth strategy as the company plans to include new consumer EV models beyond its existing offerings. It currently offers a battery-powered electric pickup called R1T and an SUV called R1S.

Rivian was operating in stealth mode since 2009 and launched its pickup truck and SUV in November 2018. It has been investing heavily to ramp up production, including for its upscale all-electric R1T pickup truck. The company has an order of 100,000 delivery vans from Amazon as a part of the online retail giant’s Climate Pledge.

Tesla rival Rivian valued more than Ford as it makes $86 billion market debut

Jeet — Thu, 11 Nov 2021 07:11:46 +0000

Rivian, a US-based electric vehicles maker, made its debut on Wall Street and despite being a relatively young company, investors have now placed it in the same league as the most recognized brands in the auto industry.

On the first day of trading after its initial public offering (IPO), the company’s stock jumped 29 percent which gives it a market valuation of $86 billion. This is in line with the valuation of General Motors and higher than Ford’s.

Rivian R1T Electric Truck

What’s interesting about its valuation is that the well-known brands, among which Rivian now sits, produce millions of vehicles a year while Rivian started delivering its vehicles just this year, although the company has been around for over a decade now.

The bullish nature of the investors towards the electric vehicles market seems to have helped the company as they are now betting big on companies that show future promise and appear to have the ability to lead the market.

Compared to Tesla, which is currently the leader in the EV market, the valuation of Rivian is still a fraction of Elon Musk-led company which now has a market cap of over $1 trillion. Rivian is trading under the symbol “RIVN” on the Nasdaq.

Amazon and Ford are the investors in Rivian, holding 20 percent and 12 percent stake respectively, which is now worth around $17 billion and $10 billion. A couple of months ago, Amazon had valued its investment in the EV maker at around $3.8 billion.

Rivian was operating in stealth mode since 2009 and launched its pickup truck and SUV in November 2018. The company started with the aim of launching the Tesla Roadster competitor, but it pivoted to making SUVs and pickup trucks. It has been investing heavily to ramp up production, including for its upscale all-electric R1T pickup truck.

Earlier this year, Amazon announced the purchase of 100,000 delivery vans which will be produced by Rivian as a part of the online retail giant’s ‘Climate Pledge.’ The new delivery vans for Amazon are already operational in some regions in the United States.

EV startup Rivian plans to go public next week; aims $60 billion valuation

Jeet — Tue, 02 Nov 2021 00:42:31 +0000

Rivian Automotive, a startup working on electric vehicles, is gearing up for an initial public offering (IPO) and the company is targeting a valuation of $54.6 billion, reveals amended prospectus filed by the company.

The startup says that it is planning to offer 135 million shares priced between $57 and $62, with an option for underwriters to purchase up to 20.25 million additional shares. At the high end of the range, that would give Rivian a valuation of over $60 billion on a fully diluted basis on its market debut.

It is being reported that the company is planning to go public as soon as next week and plans to get listed on the Nasdaq under the ticker symbol “RIVN.”

In its new filing, Rivian said that its investors, including Amazon and T. Rowe Price, have shown interest in buying up to $5 billion in shares in aggregate at the time of the IPO. The company will also be offering retail investors access to purchase a portion of its IPO shares through SoFi’s online brokerage platform.

For those who are unaware, Rivian is an electric vehicle startup which was operating in stealth mode since 2009 and launched its pickup truck and SUV in November 2018. The company was started with the aim of launching the Tesla Roadster competitor, but it pivoted to making SUVs and pickup trucks.

It has been investing heavily to ramp up production, including for its upscale all-electric R1T pickup truck, which was launched in September.

The company has received a significant amount of funding, including a $700 million round led by Amazon in 2019 and $500 million from Ford in April 2019. Recently, the company managed to get another $2.65 billion from T. Rowe and Amazon’s Climate Pledge Fund.

Amazon starts using Rivian electric vans for deliveries in San Francisco

Jeet — Fri, 19 Mar 2021 08:13:55 +0000

Last month, Amazon had announced that the company will start using the new electric delivery trucks in 16 cities within the United States by the end of this year. The new delivery vans are designed and built by Rivian, which is an EV startup.

The company had already started using these new trucks in Los Angeles. Now, the company has expanded it to the second city — San Francisco. Initially, the vehicles will run test routes out of a delivery station in Richmond and then expand to other parts of the Bay Area over time.

The electric vans can travel up to 150 miles on a single charge. Amazon has already started prepping its facilities for the vans and adding thousands of charging stations at delivery centers throughout North America and Europe.

When the company said that it plans to use EV trucks for deliveries in 16 cities by the end of this year, it didn’t reveal the names of the cities. But, with such a move, Amazon seems to be on its way to having a fleet of 10,000 electric vans by the end of 2022.

Amazon had earlier announced the purchase of 100,000 delivery vans which will be produced by Rivian, in which Amazon is one of the major investors. This is a part of the online retail giant’s ‘Climate Pledge.’

Rivian is an electric vehicle startup which was operating in stealth mode since 2009 and launched its pickup truck and SUV in November 2018. The company was started with the aim of launching Tesla Roadster competitor, it pivoted to making SUVs and pickup trucks.

Amazon to soon start using Rivian electric vans for making deliveries in 16 cities in the US

Jeet — Thu, 04 Feb 2021 09:01:32 +0000

Amazon has announced that the company will start using its new electric delivery trucks in about 16 cities in the United States later this year. The new delivery vans, designed and built by electric vehicle startup Rivian, is already operational in Los Angeles.

The company is now planning to expand its testing to 15 more cities this year but it has not revealed the name of these cities yet. With this, Amazon seems to be on its way to having a fleet of 10,000 electric vans by the end of 2022.

For those who are unaware, Amazon had earlier announced the purchase of 100,000 delivery vans which will be produced by Rivian, in which Amazon is one of the major investors. This is a part of the online retail giant’s ‘Climate Pledge.’