Showing posts with label Rivian. Show all posts
Showing posts with label Rivian. Show all posts

Monday, August 15, 2022

EV Maker Rivian Reports $1.7 billion 2nd Quarter Loss

[Auto Styling News]


EV automaker Rivian Automotive Inc. reported its net loss in the second quarter nearly tripled to $1.7 billion, further pressuring the electric-vehicle startup to conserve cash and move quickly to fill customer orders.

The California-based SUV and truck maker said revenue for the quarter was about $364 million as it increased production and deliveries of its first three models. Rivian started manufacturing vehicles for the first time late last year.

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Auto Styling News is a blog that covers car concepts, newly released models, and the auto industry.

Friday, March 11, 2022

EV Automaker Rivian Sees Stocks Plummet After Bad Fourth Quarter

[Auto Styling News]


Rivian, the U.S. electric automaker that went public late last year, reported its fourth-quarter financial results and calendar 2021 outcome, results that along with its production forecast for 2022 disappointed Wall Street and sent shares to a new low, according to TechCrunch.

Screenshot from Robinhood app 3/10/22
The company (trading as RIVN) are holding steady at just below $36 a share, after losing 12% of its value in after hours trading on Thursday. That followed losing 6% of its value Thursday during daily trading.

A worldwide computer chip shortage, lingering doubts about future energy supplies, and range anxiety are all creating a perfect storm that is causing EV adoption hesitancy in the electric car market, despite a great deal of hype from the auto industry itself.

That is having a serious effect on startups like Rivian and lesser known companies like Canoo (GOEV) an electric automaker that has also has seen its stock plummet in recent months (it stands at $5.76 a share, down 1.35% Thursday) despite a new factory having been constructed in Oklahoma and promises of their van-like Lifestyle vehicle being produced by the end of the fourth quarter of this year - the seemingly ambitious goal that is also being doubted among those watching Rivian.

Nevertheless, Rivian produced just over 900 vehicles by the end of 2021, despite the fact that this was not enough to turn a profit.
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Auto Styling News is a blog that covers car concepts, newly released models, and the auto industry.

Tuesday, November 17, 2020

#Rivian Electric Trucks Set To Launch With $69k Starting Price [Auto Styling News]

You may know all about the Cybertruck and its developer, serial entrepreneur Elon Musk, but you might have to get to know Rivian and its founder and CEO, RJ Scaringe as well, if you want to keep up with the latest in electric trucks.

Electric vehicle manufacturer Rivian unveiled its highly anticipated Electric Adventure Vehicles - the R1T, an all-electric pickup and the R1S, an all-electric SUV — launched at events surrounding the 2018 LA Auto Show. They're nearing their production schedule of late 2020.

The R1T, a 5-passenger pickup truck, debuted at the Griffith Observatory in Los Angeles on Nov. 26, and the R1S, a 7-passenger SUV, was revealed at the automaker’s press conference at Automobility on Nov. 27. 

With up to 400+ miles in electric range, a wading depth of 1 meter, lockable storage bins that can fit the bulkiest of gear, and the performance and precise control of quad-motor AWD, Rivian vehicles have been developed to help customers get out and explore the world. Both vehicles will be produced at Rivian’s manufacturing facility in Normal IL.

The company begins by producing, "two vehicles that reimagine the pickup and SUV segments,” says Scaringe. “I started Rivian to deliver products that the world didn’t already have - to redefine expectations through the application of technology and innovation. Starting with a clean sheet, we have spent years developing the technology to deliver the ideal vehicle for active customers.

The company launches with two trucks, the R1T and R1S. Both designs communicate strength and refinement while still inviting customers to get the vehicles dirty. Strong proportions and clean, continuous bodylines help achieve a modern, inviting stance while acknowledging the performance and level of technology integrated into the vehicles.

The main bodyline of the R1T, which wraps up and around the cab and gives the vehicle a distinctive silhouette, while highlighting the Gear Tunnel™ cutline and accentuating the rear fender flares. The R1S shares much of its appearance with the R1T but in the rear highlights a function-driven design expressing capability and utility with plenty of space for occupants and gear. 

Rivian R1T

Both vehicles feature short overhangs, high ground clearance and aggressive approach and departure angles for a confident and rugged stance, all enabled by Rivian’s unique skateboard platform. 

Perhaps most controversially, the Rivian trucks will be quickly recognized on the road with their iconic, signature “stadium” headlights and a daytime running light that extends the entire width of the vehicle. But then again, every part of the Cybertruck will look far LESS conventional than these trucks, which will bring to mind the Toyota FJ Cruiser or even the 2021 Ford Bronco.

The Rivian has a Manufacturer's Suggested Retail Price (MSRP) starting at $69,000. At this time, Rivian is taking $1,000 refundable deposits.