Rivian awarded $6 6B conditional loan for Georgia EV plant for 2028

Rivian (RIVN) will report its third-quarter earnings on Thursday after market close. After a supply shortage hampered production, investors are wondering if the EV maker will see its first revenue drop since becoming a public company. Beginning in three initial trims starting with the Launch Edition in 2021, the R1T’s will come with Rivian’s mid-tier battery pack, which the automaker claims to offer a range of 300+ miles. Ford’s premium Lincoln brand was developing an all-electric SUV in partnership with Rivian that’s since been cancelled.

Third-row passengers have their own armrests, cup holders, and storage cubbies, the door cards and seatbacks have clever pockets, and the front seats have hidden compartments underneath. Rivian’s infotainment is powered by Epic Games’ Unreal Engine, and the graphics are wonderful. Unlike with most other brands, the screen shows fully rendered and animated images of the vehicle in its exact spec, and I appreciate how the visuals change depending on the drive mode. The menus are easy to navigate, and there’s plenty of nerdy information available on the trip computer and performance pages. I do wish there were a sort of homescreen that could display a combination of different apps instead of having to switch between full-screen tabs to control nav or music.

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The previous night, when left outside in the same conditions without being plugged in, the R1S lost about 10 percent of its charge. Air suspension is standard on the R1S, providing more than six inches of selectable height adjustment and automatic leveling for towing. In its highest setting, the R1S has 14.9 inches of ground clearance, more than enough to bash over snow banks or crawl over big rocks. The R1S’s variable active dampers have two different stiffness settings, and Rivian uses an electrohydraulic roll control system in place of traditional mechanical anti-roll bars to minimize lean and body roll both on and off the road. The second and third rows fold almost completely flat, and the split tailgate makes loading and unloading easy — plus, with a 500-pound weight limit, it’s great for tailgating. You don’t get a gear tunnel like in the R1T, but both the cargo space and frunk have covered storage compartments.

Creating assembly plants, finding suppliers, hiring talented staff, web development careers & degrees establishing a marketing pipeline, and so forth take time, energy, and billions of dollars. Of all the electric-vehicle (EV) startups out there, Rivian looks like one likely to survive. Oh, there are others, but Rivian seems to have positioned itself well enough to go the distance. It seems to have the cash, the battery technology, and the vision to endure among established car brands that are also getting into the electric truck and SUV business.

In 2011, Rivian unveiled a sporty coupe prototype before the entire project was scrapped. While it seems the coupe was a working prototype, it’s probably for the best that Rivian shifted its initial focus to SUVs, as several other EV startups have taken the luxury EV sedan route. Although the company’s focus has always been on cars, it prides itself that it does not look or act like a car company. Due to Scaringe’s deep focus on the environment and sustainability, Rivian holds its goal to make a difference over everything else. Ironically, one of the potential big winners of Rivian’s successful IPO is the 118-year-old automaker Ford, which has a similarly major stake in the company, and plans to work closely with Rivian in the future on EV projects.

• The entry-level version comes with a dual-motor setup with up to 665 hp and a 0 to 60 time as fast as 3.4 seconds.
• The 600hp dual-motor R1S starts at $79,800 and uses a smaller battery pack that has a 260-mile max range, but the larger 340-mile pack that comes standard on the quad-motor R1S is available for an extra $6,000.
• High-output, 100-watt USB-C ports are also part of the conversation, as well as vehicle-to-load and a sliding center console that can be opened by either the front-row occupants or the second-row passengers.
• These changes mean that, for the first time since the company broke stealth in 2018, Rivian’s immediate future is actually remarkably clear.

Cadillac Vistiq

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Ford has over 150,000 pre-orders for its all-electric Ford F-150 Lightning, and is using the electric motor powering its Ford Mustang Mach-E to jumpstart the EV-based retrofit and custom car market. Rivian’s R1S SUV will be competing with other electric SUVs from companies like Tesla, which produces the Model X SUV and crossover Model Y vehicle. This week, electric vehicle maker Rivian is expected to throw its hat in the ring with a major IPO that could affect both the EV landscape and the way the world’s largest online retailer gets its packages to your door. But the company says the changes to the R1 lineup set it on the path to reaching “positive gross profit” by the end of this year.

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The luxury SUV market remains a saturated one, but Rivian’s R1S promises to offer luxury, range, and the threshold for rugged terrain many automakers may soon struggle to compete with. September came, and Rivian has in fact begun producing R1T pickups for actual customers. CEO RJ Scaringe captured the pivotal moment for the nascent automaker on Twitter with footage of the very first customer EV rolling off the assembly line at Rivian’s Normal, IL facility.

According to a scathing new report in Bloomberg, the American-made EV maker has racked up more “serious” US safety violations than any other automaker since the start of 2023 – despite having only one plant. Battery manufacturer LG Energy Solution just announced that its Arizona subsidiary has signed a long-term supply agreement with US automaker Rivian for 4695 cylindrical batteries. The cells will be produced at LG Energy Solution Arizona’s new standalone US facility beginning next year and will power Rivian’s upcoming R2 BEVs. It’s all-new, three row SUV from Cadillac that packs 650 hp and can go from 0-60 mph in under 3.5 seconds, a serious word from Rivian, and something fishy at Tesla.

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However, Rivian’s pretty confident about this development, so much so that it has now laid down the plans for its second manufacturing facility in Stanton Springs North, near the city of Social Circle, Georgia. The least expensive model on this list is the Kia EV9, but going for the top-tier GT-Line gets very close to the Cadillac Vistiq’s price tag. However, the Vistiq is more powerful than the EV9 GT-Line and has a longer driving range–300 miles versus the GT-Line’s 270 miles. That said, the EV9 Light Long Range RWD can go 304 miles and is roughly $20,000 cheaper than the Vistiq.

Our facilities in Irvine are home to vehicle engineering and design, electronics, software, propulsion, battery systems, supply chain and logistics, IT, as well as many of our teams building and operating our customer facing platforms. Revenue fell 35% year over year to $874 million, which is a bad sign for a growth-oriented company that will need to scale its business model into profitability. Furthermore, the company generated a gross loss of $392 million, which means it costs more to make and deliver its cars than it can recoup from selling them. The dual-motor, all-wheel drive versions of the Kia EV9 offer a maximum output of 379 hp and 443 lb-ft of torque, except for the top-tier GT-Line which ups the torque figure to 516 lb-ft.

In the meantime, the R1S will continue to reign as king of both the literal and figurative mountain. The R1S’s range estimates are accurate, if a little conservative, and the navigation system can automatically direct you to a charging station or pick an alternative route for better efficiency. Using a DC fast charger, the Rivian’s 135kWh battery pack can gain 140 miles of range in 20 minutes or what is adx go from 10 percent to 80 percent charge in around 45 minutes. Heated and ventilated front seats, a heated steering wheel and second-row bench, an excellent 19-speaker Meridian sound system, eight USB-C ports, multiple power outlets, wireless charging, and Wi-Fi connectivity are all standard. A removable Bluetooth speaker is built into the center console, and there’s an air compressor located in the rear cargo area.