EV maker Rivian reported first quarter earnings that were slightly better than its year-ago results but ended up falling short of analysts’ expectations. The company generated more revenue, but increased costs chewed up profits. Find out more about what happened at Headlight.News.
EV maker Rivian received $827 million in new incentives from the State of Illinois to expand its production facility in Normal. The company currently builds all of its vehicles there, but the expansion will allow it increase production levels as well as handle...
The Ram brand launched the latest version of the full-size 1500 pickup today, the Ram 1500 RHO delivering a mix of dragstrip performance and extreme off-road capabilities. But it’s not a replacement for the even more formidable Ram TRX, officials stressed. We’ll have to wait a few years for that ultimate version of the Ram 1500. But when it does arrive it could deliver an electrifying surprise, reports Headlight.News.
Tesla’s first quarter deliveries declined for the first time in nearly four years, falling short of Wall Street estimates. The declines came despite EV sales rising for competing automakers during the same period. Find out more at Headlight.News.
The long wait, which was somewhat spoiled by a leak, for Rivian’s next vehicle line came to an end today with a massive surprise: Rivian’s third vehicle. Headlight.News has the story.
A “Tesla and Rivian owner/fan” uncovered reported details about the new Rivian R2 scheduled to make its global debut Thursday. The EV maker’s new model is about the size of the Tesla Model Y and costs less than $50K. Go to Headlight.News for more information.
While the rate of growth may be slowing, EV sales hit a record 1 million last year as more and more Americans find them to be acceptable alternatives to conventional, gas-powered vehicles. But “charging anxiety” has become one of the key factors slowing EV growth, according to industry analysts. And a new J.D. Power study concludes that “Public charging isn’t just bad, it’s getting worse.” That said, most owners are ready to buy another EV when it’s time to trade in, especially those with the top-ranked BMW i4.
Rivian announced it will slash both its corporate staff and production this year after reporting more than $1.5 billion in losses for the final three months of 2023. Even as it prepares to unveil an entirely new family of battery-electric vehicles, CEO RJ Scaringe warned the nascent automaker “is not immune” to the headwinds battering the U.S. EV market after four years of record growth. Separately, EV startup Lucid also forecast flattening sales after reporting worsening losses.
Headlight News for the Week of 2-19-24 – Ford Plans Low-Cost EVs – Cybertruck Rust – Rivian Teases New EV – Mitsubishi Outlander PHEV Review – and a Week in Automotive History.
EV maker Rivian plans to roll out its second product line, the R2, on March 7. However, to whet the appetites of the company’s aficionados and others who are interested in a smaller, less expensive electric SUV, it offered a short teaser video of what’s coming. The...
Tesla and Rivian have gotten the scissors out again, cutting prices on their new offerings. The reductions are temporary for Tesla while Rivian’s cuts are designed to help offset being ineligible for part of the $7,500 federal tax credit. Get the details at Headlight.News.
Rivian plans to take a step closer to becoming a full-line automaker next month, the automaker confirming it will reveal its R2 line on March 7. Smaller than the existing R1T pickup and R1S SUV, the R2 models also will be more affordable, officials last year indicating they could start around $40,000. Get the details at Headlight.News.