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.
The New Year got off to a rough start for Rivian, the start-up slammed by investors nervous about slowing growth in EV sales. But the market is taking notice of the news that Rivian has poached DJ Novotny, the vice president of hardware engineering away from Apple. The move comes as the tech giant reportedly again delayed – by as much as four years – its secretive Apple Car program. More from Headlight.News.
By far the most alarming story that’s being taken in stride are the allegations that Tesla has been blaming known problematic parts failures on their customers, accusing Tesla buyers of having poor driving habits. Worse, the company has billed its customers for repairs stemming from known defective parts, and has tap danced around regulators on the issue. Read it all at Headlight.News
The Biden admin. may give a critical boost to the auto industry as sales of battery-electric vehicles slow, temporarily lifting rules sharply curtailing the number of EVs qualifying for federal tax credits. But the senator who introduced the restrictions says he’ll fight any rollback, reports Headlight.News.
Rivian’s making it easier get into one of their EVs, kicking off its leasing program. The lease option for the R1T Adventure Package is priced at $6,794 at signing, plus $899 a month for 36 months with 30,000 total miles allowed. Read the story at Headlight.News.
Only a few years ago, an array of EV start-ups appeared poised to revolutionize the auto industry. Today, many have vanished while others struggle for survival. There have been a few success stories but the shake-out is likely to continue, reports Headlight.News.
EV startup Rivian told investors Tuesday it plans to build more of its all-electric pickups and SUVs than previously forecast. The move is counter to production cuts by other nascent makers, like Lucid, as well as mainstream car companies, such as Ford and General Motors. Get details at Headlight.News.