Rivian, the electric vehicle manufacturer, has been a focal point of discussion, drawing comparisons to Tesla's early struggles and potential for success. Analysts and enthusiasts alike have noted the company's ambitious production goals, including expanding its Normal plant for the R2 model to reach 215K units and introducing a new R3 model, aiming for an additional 400K units, with a combined production target of 615,000 units in five to seven years. The unveiling of the R2 crossover in Laguna Beach, California, by CEO RJ Scaringe, with a starting price of $45,000, has generated significant interest, indicating pent-up demand for Musk-free EV innovation. Despite the enthusiasm, Rivian faces challenges, including the need to prove it can manufacture profitably and navigate a market downturn affecting the broader electric vehicle industry. The company has also made strategic decisions to cut costs, such as shelving plans for a new factory in Georgia. Rivian's stock surged 13% after announcing the cheaper new SUV, backed by Amazon.
The New York Times is pure propaganda https://t.co/GV08kmg4aA
What was the most interesting Tesla / EV news of the week?
Elon Musk Failed To Quash This Chinese Billionaire’s Tesla Rival — Now Its Going Global https://t.co/CjnEIo0QW0
Elon Musk Has a Giant Charity. Its Money Stays Close to Home. https://t.co/TXyFmYYXvw
The Musk Foundation is one of the US's largest charities and Elon Musk has received huge tax benefits. But it isn't doling out as much $ as is legally required. When it does give, that $ often goes to causes benefitting its owner. We investigated: https://t.co/wa5aXkX9Yz
Elon Musk's $7Billion charity has no employees and has failed to give away enough money to qualify for tax breaks putting it a risk of massive IRS fines https://t.co/4gGrDNj3Lb https://t.co/tCMMDVAD12
After making billions in tax-deductible donations to his philanthropy, Elon Musk gave away far less than required in some years — and what he did give often supported his own interests. https://t.co/eaBmjLWgV0 https://t.co/SrzJfRmJGp
EV startups are adjusting plans to navigate demand weakness, focusing on cheaper models and production upgrades. https://t.co/GaY5pK3iEO
Elon Musk's foundation has failed to give away the bare minimum required to earn a tax break and an analysis finds that half of recent donations had some link to Musk himself or one of his employees or businesses. @Fahrenthold @RMac18 https://t.co/3RxWG7141S
$RIVN Delaying Georgia plant smart. New Car preorders good but over 2 years out... More gap to fill back over 13.5 https://t.co/XS1DrDNRas
Elon Musk’s charity may bear his name, but it can’t seem to match his penchant for high-dollar spending. https://t.co/AbDpX6GENu
Electric vehicles have been under pressure, despite rapid growth in 2023. The long-term outlook remains positive, according to Franklin Templeton Emerging Markets Equity. Find out more. https://t.co/gY7HBTo9vW
NEW: Elon Musk runs one of the country's largest charitable foundations -- and he often uses it to help himself. From me and @RMac18: https://t.co/cQlpZ2lg67
Hugely impressed by the cars @Rivian just announced. I can definitely see the R3 being my next car and replacing my Model Y. @RJScaringe being a kind human being rather than a toxic self-centered psychopath is also a nice plus. https://t.co/atqwnbb3SV
Tesla rival Rivian’s market value jumps by over $1.7B after it unveils R2 and halts $5B factory—cutting costs "massively" as Elon Musk suggested. https://t.co/360R9CmWbt
Rivian's R3 is the coolest-looking EV since Hyundai's Ioniq 5 https://t.co/YHv4HnWjvZ https://t.co/QsNK0yR5hB
Rivian’s R3 is the coolest-looking EV since Hyundai’s Ioniq 5 https://t.co/3ySNBZY6Bi https://t.co/aP7dnGaBF0
the rivian r3 looks cool, it's a shame it won't be available until after the singularity
forget the rivian I want this https://t.co/HdwCJlPNe6
Amazon-Backed Rivian Surges 13% After Announcing Cheaper New SUV https://t.co/JE31VIyvg6
Rivian's EV design looks unoriginal, but moreover, it is unsuspecting. It is the quiet luxury of EVs. Not everybody wants to flex on every stranger they pass. https://t.co/tVfKr4u3hZ
$TSLA | Tesla Q1 Deliveries Worries Mount $RIVN | Rivian's New R2 Pre-Orders Surge $NIO | Nio Readying Model Y Rival And More! Biggest EV Stories Of The Week: https://t.co/2RT8oF65d0
The EV slowdown has already hit Tesla, Rivian, and others. These stocks are also casualties. https://t.co/5n6BdJ9PM5 by @ines_ferre
#Rivian R3 spotted in the streets leaving Laguna Beach after the launch event. This thing looks so good compared to the Model Y’s around it. Who else want to buy a R3? https://t.co/U5jQKFwJEp
$F | Amid Tesla Challenge, Ford Pins Hopes On Hybrids For Relevance As Mach-E Sales Dip https://t.co/7KGfnQxKmp
$RIVN | Rivian's Stock Grossly Undervalued? Fund Manager Predicts Tesla-Like Turnaround Following New Vehicle Line-Up Announcements Gary Black forecasts Rivian's production to hit 615,000 in five to seven years. The stock could be worth much more than the level at which it was… https://t.co/y8BJGtXnoW
China’s new-energy carmakers should explore new markets overseas as a renewed price war at home tests their ability to control costs amid the waning effectiveness of price cuts to boost sales, according to an industry analyst. https://t.co/BGKMM1w63j
Climate Change Weekly #499: Is the Bell Tolling for EV Mania? https://t.co/MU505yFCQU
What EV makers are doing to ride out a demand slump https://t.co/EXbEFOL2HT
Rivian Shelves New Georgia Factory In Latest Cost-Cutting Measures https://t.co/kJxXKKDNyY
100% buying this car @Rivian https://t.co/eIdEuVuqua
Had so much fun chatting with @Rivian CEO @RJScaringe with @jennaezarik at the launch of the new R2, R3 and R3X! Full video: https://t.co/HulUl6CXUx https://t.co/Pk9VWg0YbF
U.S. electric vehicle startups are turning to cheaper models, slamming the brakes on their production ramp-up plans and laying off employees to navigate a slump in demand due to steep borrowing costs and high repair expenses for the vehicles. https://t.co/OlaWW0slJ1
How RJ Scaringe Is Driving Rivian Straight At Elon Musk https://t.co/Z6MN4ck3ML
Rivian pulled off a Steve Jobs moment with its surprise announcements https://t.co/lQ9q4fU5Dk
When you ask your Gen Z social media editor to cover a livestream 🔥✍️ CEO RJ Scaringe unveiled the R2 crossover in Laguna Beach, Calif., to a very enthusiastic crowd, with a $45,000 starting price including shipping. #rivian #rivianR2 #rivianR3 #commentary https://t.co/6hqZV2Y9Bx
Rivian’s R2 pre-order numbers hint at pent-up demand for Musk-free EV innovation https://t.co/7QwVJPHazo https://t.co/b9Yx5cleQF
Some thoughts on Rivian and the R2: -It looks great. -Everyone I know who has a Rivian loves it. -Rivian needs to prove it can reduce costs and manufacture profitably. ... -It's a Model Y competitor coming out 6 years after the Model Y.
Fun friday story about #rivian from me Rivian's new 'treehouse' rooftop tent comes with a movie projector https://t.co/DpPrzOQit3 via @techcrunch
Dangerous to assume Rivian will be replay of Tesla when the market is littered with the corpses of dead EV startups They’ve got a better chance of success than anyone — but it’s a tough time for everyone https://t.co/EKI10GLYZw
Dangerous to assume Rivian will be replay of Tesla when the market is littered with the corpses of dead EV startups https://t.co/EKI10GLYZw
$RIVN reminds me of $TSLA in 2019 when naysayers predicted it would run out of cash and the equity would be worthless. If $RIVN can execute on its plans, production will increase to 215K once the Normal plant is expanded for R2, and add another 400K new R3 production at the…