YDR37
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Rivian started as an EV pickup company. At the beginning, that was how Rivian was pitched to investors: Tesla had shown that EV cars could sell, and Rivian was going to be like Tesla, but for pickups. The R1T was the first EV pickup to hit the market.Yup, it's a different scale. Maybe EV trucks will take off, or maybe not.
Most of those companies making EV trucks will be fine regardless. They'll keep supporting their vehicles for years to come. They won't go like Fisker. At least not soon. It seems like Rivian is in a bit of a dicy spot, but I hope they make it because I think they make a nice product.
Then in 2022, Rivian introduced an SUV, the R1S, based on the R1T platform. Now the R1S outsells the R1T by around 2 to 1.
Rivian has announced three forthcoming models: the R2, R3, and R3X. They are all compact or mid-sized SUVs, not pickups. They are all designed to cost less than the existing models.
I expect Rivian will continue to sell the R1T for a while, but they clearly aren't the "EV pickup" company anymore. They are gambling the company on inexpensive EV SUVs instead.
The market for compact and mid-sized EV SUVs is taking off. The market for full-size EV trucks is not (at least not yet). That's why Rivian is transitioning.
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