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Tag: rivian

  • Rivian Open Up Sales For Its Electric Van In 2023

    Rivian Open Up Sales For Its Electric Van In 2023

    Rivian which is one of the most well capitalized electric car startup’s has been making waves with its R1T and R1S electric pickup and SUV. But aside from this on the bedrock of a huge investment from e-commerce giant Amazon and Ford, Rivian has also been making an electric van which is meant for logistics operators that were originally meant just for Amazon. Now it has been revealed that it will be opening up sales for the electric van in 2023 after an order of 100,000 vans from the e-commerce giant.

    Rivian is slated to go public later this week with a valuation upwards of $60 billion. It quietly announced details about the plans for its fleet sales where it will even offer the R1T and R1S electric pickup and electric SUV and also has announced a new fleet management platform called FleetOS, alongside the electric van.

    Rivian is slated to be delivering 100,000 to just Amazon alone by 2024 as a part of its efforts to decarbonize its fleet. Amazon owns around 20 percent of Rivian after participating in multiple funding rounds and many had assumed the electric van was exclusive to Amazon, but seemingly that situation has changed which could allow Rivian to unlock more value.

    Rivian is slated to start production and deliveries of the electric van starting in December to Amazon.

    Apart from Amazon, FedEx has a deal with General Motors for EVs with its BrightDrop subsidiary. Even UPS has a deal with EV startup Arrival – so there is a trend that many logistics players are looking towards EVs which certainly is a big market for the EV players around the world.

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  • Rivian’s Amazon Delivery Vans Hitting Mass Production

    Rivian’s Amazon Delivery Vans Hitting Mass Production

    Rivian is one of the hottest EV startups doing the rounds. It has deep pockets thanks to investments from Ford, Amazon, and many venture capital firms. Amazon’s investment in Rivian originally was $700 million which entailed the startup producing 100,000 electric delivery trucks. It was supposed to be delivering the first tranche of 10,000 vehicles by the end of 2022.

    Looks like Rivian is right on track with achieving the same. Its vehicles have already been popping up in cities like San Francisco, Denver, and Oklahoma – but these were prototype vehicles that were doing real-world testing.

    Rivian CEO and co-founder RJ Scaringe has posted a photo of eight Rivian vans which look identical to the one that Amazon has been teasing which even feature the “Powered By Rivian” signage. He also shared tweeted videos that showed the initial production process.

    A lot of it is not known about these vans as they have probably been customized and tailored for Amazon’s logistics. These vehicles are obviously different from the R1T and R1S vehicles which Rivian are going on sale soon in July and August.

    The R1T has been even showcased in the Apple TV+ original “the Long Way Up” and is expected to duel with the likes of the Tesla Cybertruck and the Ford F-150 Lightning.

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  • Rivian CEO Eyes Smaller Electric Vehicles For China, Europe

    Rivian CEO Eyes Smaller Electric Vehicles For China, Europe

    Electric vehicle startup Rivian, which is backed by Amazon and Ford Motor Co, on Wednesday said it plans to follow up its first two products, a full-size pickup and SUV, with smaller models targeted at China and Europe where it may eventually build some vehicles.

    While Rivian plans to begin selling the SUV in Europe in 2022 and China soon after, “what will really drive volume in those markets is the follow-on products” that are smaller and tailored for overseas customers, Rivian founder and Chief Executive R.J. Scaringe told Reuters.

    The smaller models, which are expected to share key components with the pickup and SUV, will “fit some of those other markets really well, in particular China,” Scaringe said.

    “To really scale in those markets as we bring on follow-on products, having a production footprint outside the U.S. is going to be important,” he said. “That’s a ways off.”

    Scaringe added: “We wouldn’t be serious about building a car company if we weren’t thinking about China and Europe as important markets long term.”

    The company’s first plant in Normal, Illinois, has begun pilot production ahead of next year’s launch of three models – the R1T pickup and R1S SUV, which Scaringe described as “halo products” for Rivian, and a large electric delivery van for Amazon.

    Speaking from a room overlooking the assembly line, Scaringe said the former Mitsubishi Motors plant reflects an unusual degree of vertical integration, with room for building motors and battery packs for the vehicles and for further expansion.

    Rivian has said deliveries of the pickup would start in June 2021, while those of the SUV would begin in August. Launch editions of the vehicles are priced at $75,000 (GBP 56,454) and $77,500, respectively, with a 300-mile (480 km) driving range for both.

    The electric pickup market will soon be crowded as Ford, General Motors Co and Tesla Inc, as well as several other startups, are developing similar models. Numerous automakers also are rolling out electric SUVs.

    In July, Rivian, founded in 2009, boosted its war chest with a $2.5-billion investment round led by T. Rowe Price, raising total investment in the startup to $6 billion. Investors include Soros Fund Management, Fidelity and BlackRock, as well as Saudi auto distributor Abdul Latif Jameel Co (ALJ).

    Amazon, which has relationships and deals across the auto industry, led a $700 million investment round in Rivian last year.

    The e-commerce company also ordered 100,000 electric vans from Rivian. The first Amazon vehicles go into production in Normal in late 2021, with all deliveries to be completed by 2024.

    Scaringe said Rivian has begun setting up service centers and will deploy mobile units to handle maintenance and repair work on Amazon’s vans, as well as Rivian vehicles for retail customers.

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  • Ford Invests $500 Million In Rivian, a Battery Supplier

    Ford Invests $500 Million In Rivian, a Battery Supplier

    Rivian announced an equity investment of $500 million from Ford Motor Company. In addition to the investment, the companies have agreed to work together to develop an all-new, next-generation battery electric vehicle for Ford’s growing EV portfolio using Rivian’s skateboard platform. Rivian already has developed two clean-sheet vehicles with adventurers at the core of every design and engineering decision. The company’s launch products – the five-passenger R1T pickup and seven-passenger R1S SUV – will deliver up to 644 kilometres of range and provide an unmatched combination of performance, off-road capability and utility, starting in late 2020.

    RJ Scaringe, Rivian founder and CEO said, “Ford has a long-standing commitment to sustainability, with Bill Ford being one of the industry’s earliest advocates, and we are excited to use our technology to get more electric vehicles on the road.”

    Ford intends to develop a new vehicle using Rivian’s flexible skateboard platform. This is in addition to Ford’s existing plans to develop a portfolio of battery electric vehicles. As part of its previously announced $11 billion EV investment, Ford already has confirmed two key fully electric vehicles: a Mustang-inspired crossover coming in 2020 and a zero-emissions version of the best-selling F-150 pickup.

    Rivian remains an independent company. The investment is subject to customary regulatory approval. Following Ford’s investment, Joe Hinrichs, Ford’s president of Automotive, will join Rivian’s seven-member board.

    Bill Ford, Ford’s executive chairman said, “We are excited to invest in and partner with Rivian. I have gotten to know and respect RJ, and we share a common goal to create a sustainable future for our industry through innovation.”

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