and the temperature in Normal, Illinois, just a few hours south of Chicago, is well below freezing. The small pond in front of Rivian Automotive’s assembly plant has turned to ice, the grass is covered with frost and there is snow in the forecast. It’s not much warmer inside the plant. Nearly the entire 2.
With the emergence of Rivian, the electric vehicle market is no longer a one horseless carriage race. Indeed, the 2020s are gearing up to be the decade of the EV. According to research at Oppenheimer, EVs and plug-in electric hybrids accounted for a mere 2.2 percent of all U.S. vehicles sold in the last quarter of 2019. And only a third of those were purely electric. But that is changing rapidly. While only 5.
After graduating with his doctorate in 2009, Scaringe returned home to Melbourne, Florida, where he founded the company that became Rivian. He and his team spent four years developing a speedster-like EV before Scaringe found what he thought was an obvious gap in electric vehicles and one that spoke to his outdoorsy interests—a truck and a luxury SUV.—a chassis that contains the battery pack, suspension, electric motors for propulsion and a computer to control it all.
“The opportunities [in the EV market] are pretty substantial,” says Ed Kim, a market analyst for AutoPacific, an automotive research and consulting firm based in California. If Rivian becomes a threat to Tesla dominance, it could energize the category and set up a true EV rivalry.
Rivian hopes the Ford alliance will allow the company to grow beyond its own consumer electric vehicle offerings. For its part, Ford is seemingly doing it to keep the company’s options open, as it often does, to pursue the best option with which to achieve its electrification goals: 40 electric vehicle models by the end of 2022.
Source: Energy Industry News (energyindustrynews.net)
TNR_Gold The more EV choices, the better.
AFAIK the only EV company with a battery supply for US and EU vehicle sales that isn't yet affected by COVIDー19 is Tesla bc of the Gigafactory in Nevada. Mercedes, VW, etc have succumbed to the bidding war for scant batteries suppliers from China and SouthKorea Rivian
❶Rivian founder R.J. Scaringe has a $3 billion war chest & Tesla in his sights🔴 ❷EV Hype vs. Rivian's “True Stealth” Strategy🔴Sustainability ElectricVehicles ❸Cybertruck: Art, Business & Security🔴
And yet they still haven’t released a single vehicle.
CJ_Johnson17th is this a good place to invest? Shares?
👍👍
They dont produce a single vehicle that competes with Tesla at this current time. Rivian compete with Landrover, Jeep and Toyota etc.
He should use the war chest to hire good designers - that’s the ugliest truck I have ever seen. I want an electric truck but there’s no chance I’ll buy that homely truck. Terrible.
RT done
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Forbes - 🏆 394. / 53 Read more »
Source: Forbes - 🏆 394. / 53 Read more »
Source: WSJ - 🏆 98. / 63 Read more »
Source: WSJ - 🏆 98. / 63 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: CNBC - 🏆 12. / 72 Read more »