Is Rivian the Subsequent Tesla? Traders Guess Huge on Electrical Truck Maker

Another big trend that is changing the auto industry is autonomous cars. On Tuesday, Cruise, a GM unit involved in the field, announced that it had raised $ 2 billion from Microsoft, GM, Honda and other investors. Rivian and Tesla are also working on automated driving technology.

Rivian differs from Tesla in several ways. Tesla has so far grown by selling sporty sedans, a type of vehicle that is falling out of favor with consumers. Tesla intends to build a strangely angular, futuristic pickup truck this year with the Cybertruck. However, the focus is not yet on trucks and SUVs, which make up 75 percent of the US passenger car market.

Rivian, on the other hand, focuses on making “adventure” vehicles that owners can take off the road. This means Rivian doesn’t face Tesla often.

“There is a perception that this is the winner and that is just wrong,” said Scaringe. “Consumers need to have different brands and tastes. Our success is by no means mutually exclusive. “

Economy & Economy

Updated

Jan. 19, 2021, 2:00 p.m. ET

Rebecca Puck Stair is the kind of car buyer Rivian wants to attract. As a Boy Scout in Albuquerque, she has been interested in buying an electric vehicle for several years, but needs high ground clearance and four-wheel drive for jobs that take her into the desert.

“It didn’t exist in the market,” she said. “A Tesla doesn’t suit my needs.”

She first heard from Rivian about a year ago and the next day put bail on an SUV – like Tesla, the company doesn’t plan to sell through dealers. Ms. Stair saw the cybertruck, but the design is not for her. “It just screams ‘disgusting guy truck'” she said with a laugh.

Rivian’s truck and SUV, which start at $ 67,500, look more conventional than they could have been designed by Land Rover.

Comments are closed.