SUVs and pickups are among the most profitable segments of the consumer vehicle market, and Rivian’s vehicles are promising a leap in both durability and range per battery charge. Access to Rivian’s skateboard platform, which has a separate electric motor for each wheel, is a key motivation for Ford’s stake. For several years, Ford has had ambitious plans to increase capital spending on the development of electric vehicles, per Barron’s.

You can join us live here to watch the reveal, get all the news coming out of the event, and an interview with Rivian CEO RJ Scaringe. After launching its more affordable R2 electric SUV Thursday, Rivian’s (RIVN) CEO RJ Scaringe said the EV scored over 68,000 reservations in under 24 hours. In July of 2021, we reported that Rivian was in fact on the hunt for a second manufacturing facility in the US to compliment its current plant in Normal, IL.

Described by Rivian as its “take on what a crossover can be,” the R3 promises to arrive smaller and at a lower MSRP than the R2. Along with the Rivian R2 and surprise R3/R3X, Rivian announced a slew of new and updated accessories that work with the R2 and perhaps more of its vehicles. Believe me, we took full advantage of that time to ask the pressing questions you told us you had in our watch party and many others.

This has not yet been confirmed by Rivian, but many believe a smaller pickup called the R2T is in the works. The Launch Edition is priced at $75,500, slightly higher than its pickup counterpart, which coincides with the Adventure Package. Note that all prices listed are before and tax incentives or state grants, so consumers could pay even less for their new Rivian. It will be followed by the Adventure Package next January for the same price, as well as a less expensive Explore Package for $67,500. Electrek previously covered a potential extended cab R1T spotted in winter test footage from Rivian, but the company has made zero comments about it to date.

After shock reveal of R3, Rivian is going big again with next EV

However, given that Tesla built more than 250,000 cars in 2018, the potential market for Rivian eventually may be at least as large. The electric automaker Rivian was originally founded as Mainstream Motors in 2009 by CEO RJ Scaringe, an MIT grad who studied engineering and lean manufacturing. Scaringe grew up near Melbourne, Florida, where he would work on cars with his neighbor, and spend much of his time outdoors hiking and exploring.

Its current consumer-facing lineup, the R1T pickup truck and R1S SUV, are built on Rivian’s “skateboard platform,” which grants the company increased flexibility when it comes to creating different types of vehicles, like its electric delivery trucks. Rivian (formerly Mainstream Motors) pivoted from EV sports cars early on to the luxury EV utility vehicles on display today, according to 36-year-old founder R.J. “It became increasingly clear that we weren’t answering a question that the world needs an answer to,” he said of the pivot in a 2020 interview.

Rivian unveiled the R2 – and the surprise R3 – yesterday, and after getting back and having some time to digest the event, I’m here to talk about a lot of smaller details that I learned which didn’t get mentioned on the livestream. That was followed up by news in August of 2021 that the automaker was in negotiations for a UK facility. Tesla CEO Elon Musk offered some insight as an EV company that barely survived scaling production, suggesting the company focus on getting the first factory running before expanding. Furthermore, rumors have also circulated about Rivian using numbers in its model naming scheme moving forward, such as the R2T and R2S.

The company confidentially filed for an initial public offering on Aug 27, 2021 that valued the electric vehicle maker at around $80 billion, according to reports at the time. Back then, Rivian expected to have an initial public offering (IPO) as soon as mid-November, according to Bloomberg. Rivian Automotive, founded by Robert « R.J. » Scaringe, is coming up fast in the rearview mirror of high-profile electric carmaker Tesla Inc. (TSLA). Largely unknown outside of automotive circles, the privately-held maker of premium electric sport utility vehicles (SUVs) and pickup trucks has yet to sell a vehicle. “We have a number of untruths–a truck can’t be electric, an electric car can’t go off road, it can’t get dirty, it can’t tow, and truck buyers don’t want something that’s environmentally friendly,” Scaringe told the Times.

Includes a $7,500 EV lease credit at time of lease.

Electrification and technology can create a truck that’s incredibly capable and fun to drive,” he added. By 2015, Rivian had received enough funding to operate research facilities in California’s Bay area, as well as Michigan. The automaker then shifted its manufacturing focus to a holistic ecosystem of electric vehicles built for the outdoors. Its combination https://www.dowjonesrisk.com/ of on-road performance, off-road capability, and thoughtful design is remarkable, and as a first effort from a new automaker, it’s even more impressive. More R1 variants and updates — both hardware and software — will be rolled out in the coming months, and Rivian is currently working on new, more affordable model lines that will be built in Georgia.

Working with organizations such as Basecamp Outdoor and The Bridge Project and participating in hiring events like the Grace Hopper Celebration further extend our reach to recruit diverse talent. Our pledge for today and the future is establishing a culture that thrives on inclusion and equity. We encourage our team members to bring the version of themselves that they feel most comfortable with to work and commit to meeting everyone where they are and finding ways to evolve together. Grassroots, employee-led Belonging Resource Groups (BRGs) are encouraged as an effort to establish community among people who share lived experiences. These groups include our Rainbow Rivianites, Rivian Women’s Network, Black & African American Group, LatinX Group, Asian Pacific Islander Group, Military Veterans Group and Intersectionality Group. To build the kind of future our kids and our kids’ kids deserve, extraordinary steps must be taken to stop the carbonization of our atmosphere.

1. EV makers, including Rivian, look to show they can gain control of costs as output ramps up.
2. While the original release date of the R1T was June of 2021, Rivian later pushed deliveries a month into July.
3. The R1T pickup is scheduled to be the first Rivian consumer EV to deliver for the company, and much hype has already surrounded it.
4. Climate vent, steering wheel, and mirror adjustment are all done through the screen, which can be annoying.
5. Access to Rivian’s skateboard platform, which has a separate electric motor for each wheel, is a key motivation for Ford’s stake.

Rivian launched the much-anticipated R2 – and the surprise R3 – on Thursday, but at the time we only saw the cars on stage, in isolation. Now video has emerged showing these cars driving on public roads, next to other cars, offering a better visual size comparison, and a look at the cars in motion in the sunlight. The R1S will sit upon the same propriety skateboard platform, but with more room for seating and cargo that the R1T. This seven-seat option is due to deliver just months after its pickup truck sibling, and offers tremendous interior space, as demonstrated by RJ Scaringe himself. Two years after being founded, Rivian was immersed in both electric vehicle technologies and autonomous driving capabilities.

Everything to Know About Rivian, the Next Electric Vehicle Darling

Much will hinge on the success of the R1T and R1S vehicles, but with limited numbers of each in the Launch Edition, the world may not truly be able to garner Rivian’s impact on the auto industry until the other packages arrive in early 2022. With this feat, Rivian has become the first electric pickup maker, beating the likes of Tesla, Ford, and others to the finish line. Rivian currently has one EV joining roads across the US, and two more in the pipeline for this summer. Below is a breakdown of each as well as a small rumor mill about what the future may hold for the automaker and its next round of EVs. In 2011, Rivian unveiled a sporty coupe prototype before the entire project was scrapped. While it seems the coupe was a working prototype, it’s probably for the best that Rivian shifted its initial focus to SUVs, as several other EV startups have taken the luxury EV sedan route.

Rivian flexes its power with the tri-motor R3X electric crossover

A lot of of technologies are is still being developed in Michigan, but Rivian slowly seems to be phasing everything over to its new California facility. As we continue on our journey, we’ll keep climbing in pursuit of always doing what’s right for our employees, the planet and the next generation. We look forward to providing updates on our progress in our Impact Report, which we plan to publish in 2023 after our first full year of production. Employees can join or start BRGs as a way to come together, provide education and engagement, and form alliances in awareness and advocacy across the company. Empathy and openness are a big part of being an ally for each other, and BRGs provide a way to share and receive stories and experiences.

While earning his doctorate at MIT, Scaringe worked with top engineers from major automakers at the prestigious Sloan Automotive Laboratory, per Bloomberg. After rebuilding vintage Porsches as a youth, Scaringe began dreaming of founding his own car company at age 18, the Times says. “I wanted to have an impact, and the highest-impact approach was to build the company myself,” he said, regarding his concerns about climate change and air pollution. Ahead of the R2’s official debut, Rivian’s CEO RJ Scaringe called $48,000 an “important sweet spot” for buyers switching from gas vehicles. Scaringe also said the upcoming R2 will compete in the same market as Tesla’s best-selling Model Y. The EV maker will begin building its new R2 electric SUV at its Normal, Illinois facility to accelerate the launch.