Tesla’s biggest Cybertruck competitor just rolled out the largest IPO this year
Rivian shows the future of truck investment is all-electric
Entering a dominant market:How does Rivian stack up against its two main rivals?
Ford will be releasing its F-150 Lightning truck in 2022, and like theRivian R1T, it also has a 480km driving range. But the F-150 is over $20k cheaper than Rivian. So far, the F-150 has secured 120,000 reservations.
Further, Tesla’s cybertruck has a reported reservation backlog of a massive 1.3 million and will cost consumers between $40,000 and $78,000 — the latter with all the bells and whistles.
Rivan Fleet is no longer exclusive to vans for Amazon
Besides news ofa sexual discrimination lawsuitagainst Rivian last week, the company launched theFleet section of its website on Friday. This is despite a previously exclusive deal with Amazon for van manufacturing.
It also plans to sell the R1T electric pickup truck and R1S electric SUV in fleets with a corresponding fleet management platform called FleetOS and a charging infrastructure solution.
Manufacturing is slow – can they keep up with demand?
Of course, the challenge will be if Rivian can keep manufacturing up with an influx of orders, especially given thesupply chain problemsandsemiconductor shortageaffecting the whole auto industry.
Rivian’s filing with the Security and Exchange Commissionrevealsworrying manufacturing numbers:
These numbers are woeful considering that Rivian plans to deliver an order of 100,000 electric delivery vans in the next three years, with only 10 delivered by the end of 2021.
Rivian only started delivering the R1T to primarily employees in September and plans to only make about 1,200 vehicles by the end of the year.
According to the IPO filing, its plant in Normal, Illinois, can produce up to 150,000 vehicles annually. The company plans to ramp up to 200,000 vehicles by 2023.
The securities filing also revealed that Amazon holds a 20% stake in Rivian Automotive. The behemoth has more than $1.3 billion in Rivian to date. It’s likely they’ll honor these orders first.
Can Rivian stand up against the brand that is Elon Musk?
Manturov also said that brand recognition might prove to be a challenge for Rivian against its rivals:
Rivian hasn’t got a celebrity CEO. But today’s news shows a firm commitment to electric vehicle manufacturing. It’s a bonus for sustainable mobility.
Story byCate Lawrence
Cate Lawrence is an Australian tech journo living in Berlin. She focuses on all things mobility: ebikes, autonomous vehicles, VTOL, smart ci(show all)Cate Lawrence is an Australian tech journo living in Berlin. She focuses on all things mobility: ebikes, autonomous vehicles, VTOL, smart cities, and the future of alternative energy sources like electric batteries, solar, and hydrogen.
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