So far GM hasn’t commented on a possible investment in Rivian, but said, “We admire Rivian’s contribution to a future of zero emissions and an all-electric future,” in an email statement to Reuters.Founded in 2009 by CEO R.J. Scaringe, Rivian plans to start production and sales of the R1T electric pickup truck in late 2020.Rivian launched the R1T at the 2018 Los Angeles Auto Show.R.J. has built an impressive organization, with a product portfolio and technology to match.We’re thrilled to invest in such an innovative company.”If GM joins Amazon in investing in Rivian, two deep pocket partners should increase the EV manufacturer’s chances of getting its planned vehicles into production, a massive undertaking for any automaker and fraught with challenges for new companies.
Electric vehicle startup and would-be Tesla rival Rivian won’t be getting an investment from General Motors after all, insiders suggest, after negotiations between the two reportedly stalled.Rivian came out of stealth to great fanfare late last year, with not one but two vehicles targeting arguably the most important segments in the US today.The Rivian R1T is an all-electric pickup truck, taking advantage of EV drivetrain technology to promise to be more flexible – yet no less capable – than gasoline or diesel powered models.Its sibling, the R1S, is a three-row SUV based on the same platform.Amazon led a $700m investment round in Rivian in February of this year, making a bet not only on the two cars publicly revealed, but the company’s electrification platform in general.Known as a “skateboard” by Rivian, it’s the slice of drivetrain tech – including the electric motors, batteries, brakes, and other mechanical components – that all of its future vehicles will be based upon.
In the mid-1880s, Karl Benz married a gas engine he had developed to a modified bicycle platform.When he released the contraption—the world's first commercially viable automobile—he also licensed his engine to other tinkerers, who could build their cars atop it.By the mid-20th century, upwards of 5,000 car brands had emerged.Some of them made whole vehicles like Benz; others sold cars built from a panoply of other companies' parts.Slowly, consolidation whittled that number down to the handful of automakers we now know.The company was founded in Florida by R. J. Scaringe in 2009 as Mainstream Motors—initially to build hybrid cars capable of driving 60 miles per gallon.
Rivian today announced a major investment from Ford.The 115-year old automaker is investing $500 million into the Michigan-based EV startup.Along with the cash, Ford announced plans to build a vehicle on Rivian’s electric vehicle platform.“This strategic partnership marks another key milestone in our drive to accelerate the transition to sustainable mobility,” said RJ Scaringe, Rivian founder and CEO, said in a released statement.“Ford has a long-standing commitment to sustainability, with Bill Ford being one of the industry’s earliest advocates, and we are excited to use our technology to get more electric vehicles on the road.”This investment comes two months after Rivian netted $700 million from a funding round that was lead by Amazon.
The Ford Motor Company has announced a $500 million investment in EV startup Rivian, and it will build an electric pickup truck using Rivian’s tech, the companies announced on Wednesday.The truck will not be the electric F-150 that Ford has been developing, but something new instead, Ford CEO Jim Hackett said on a call with reporters.Just two months ago, Rivian announced a $700 million investment round led by Amazon.Rivian was also in talks with GM, but the startup reportedly backed out of the potential deal.Rivian came out of stealth mode in 2018, but it has been in existence for about a decade.Unlike some flashier EV startups, Rivian didn’t announce its first vehicles — the R1T electric pickup truck and the R1S SUV, due in late 2020 — until it had locked down a manufacturing facility to build them.
On Wednesday morning, Ford announced that it will invest $500 million in the electric vehicle startup Rivian.Assuming regulatory approval, the two will form a strategic partnership, with Ford taking a minority stake in Rivian.Joe Hinrichs, Ford's president of automotive, will get a seat on Rivian's board, but more importantly, Ford will use Rivian's battery EV platform to build a new Blue Oval-badged BEV."This strategic partnership marks another key milestone in our drive to accelerate the transition to sustainable mobility.Ford has a long-standing commitment to sustainability, with Bill Ford being one of the industry's earliest advocates, and we are excited to use our technology to get more electric vehicles on the road" said RJ Scaringe, Rivian founder and CEO."As we continue in our transformation of Ford with new forms of intelligent vehicles and propulsion, this partnership with Rivian brings a fresh approach to both," said Jim Hackett, Ford president and CEO.
Ford will invest $500 million in electric-car startup Rivian, the companies announced Wednesday, forming a strategic partnership.As part of the deal, the companies will develop an "all-new, next-generation" electric vehicle for Ford, based on Rivian's "skateboard" EV platform.Rivian has so far shown the R1T electric pickup truck and R1S electric SUV, which the automaker hopes to put into production from fall 2020.Both models are built on the company's platform, which looks like a big skateboard and houses the vehicles' batteries, motors and all control electronics, allowing for different types of vehicle bodies to be mounted on top.Ford didn't say what type of vehicle it plans to build with Rivian's platform, noting only that the new model will be in addition to Ford's existing EV plans.The automaker has announced an electric crossover due in 2020 and an all-electric F-150 pickup truck -- both of which are already under development.
The first was the Rivian R1T, an all-electric pickup truck.That was swiftly followed by the Rivian R1S, a seven seat, three-row SUV.Both vehicles use the same underlying architecture, Rivian’s so-called skateboard platform.This packages together the motors, batteries, and other hardware and electronics, onto which the body of the vehicle is mounted.It’s a clever strategy, leaving plenty of space both in the cabin and for unusual storage areas, like the R1T’s truck-spanning cargo area just behind the cab.Back when the company broke cover, the talk was of how niche players could bypass the lengthy and expensive process to EV certification and regulatory approval by instead adopting its skateboard platform.
E-commerce is one of the economy’s bright spots; U.S. e-commerce sales have nearly doubled in five years, and now exceed $500 billion.Unsurprisingly, Amazon has swooped in to claim a disproportionate share of the riches, gobbling up nearly 50 percent of the market share, driving competitors out of business and solidifying its position as one of the world’s most valuable companies.Fortunately for merchants, some exciting new logistics startups are emerging to help them compete with Amazon.It offers these merchants two-day shipping via a cheap flat fee per package — a fee so cheap, in fact, that no shipping provider can come close to matching it.Two-day delivery is so compelling, often doubling sales, that many merchants are becoming increasingly dependent on Amazon despite the obvious risks of partnering with the juggernaut.This in itself is spurring startups that help merchants thrive on Amazon.
On Monday, Elon Musk welcomed investors to Tesla’s Palo Alto headquarters for the company’s first Autonomy Day, where he made some serious news: He promised an all-electric, 1-million-car fleet of self-driving Tesla taxis would roam the Earth by next year.The electric carmaker, which loves to do things differently, used the event to tout its new self-driving chip, and double down on its aggressive and heterodox approach to autonomous vehicles.By Thursday, electric vehicle fandom got messier.Meanwhile, Waze is trying to sell the country on carpooling, LA wants to revamp its bus network using cellphone data, and we learn what it takes to build a big road through one of the most sensitive—and popular—archaeological sites on the planet.Tesla believes its voluminous data will help it build robotaxis faster than the competition.The electric car company lost over $700 million this quarter, amidst what it calls unforeseen overseas delivery issues.
GM will make a full-size electric pickup truck as part of an “all-electric future” that will include a complete range of EVs, CEO Mary Barra said during the automaker’s quarterly earnings call Tuesday.GM also benefitted from its stake in ride-hailing company Lyft and French automaker PSA Group.GM revenue fell 3.4 percent to $34.88 billion compared with the same period last year.“GM has an industry-leading truck franchise and industry-leading electrification capabilities,” Barra said.We intend to create an all-electric future that includes a complete range of EVs, including full-size pickups.”GM already produces the all-electric Chevy Bolt, a small hatchback that is also used by its self-driving car unit GM Cruise.
How quickly the tides have changed.Not long after its primary competitor decided to put half a billion dollars behind a very impressive future EV truck manufacturer, GM has finally confirmed that it has electrification on its roadmap.As part of GM's first-quarter financial results conference call, CEO Mary Barra confirmed that General Motors will introduce an all-electric pickup truck.Sadly, that's about all Barra had to say on the topic, as the confirmation was part of a broader (and brief) discussion on expanding its electrification efforts.So, we don't have any details just yet.The last we heard from GM on this topic was in January, when a report cited a GMC executive saying the automaker was "considering" an electrified pickup or SUV.
Each will have a range that could top 400 miles and the ability to accelerate from 0-60 mph in three seconds, the company says.Rivian's CEO, RJ Scaringe, says not having a history of making gas-powered cars gives it an advantage over traditional automakers.The company has raised $1.4 billion so far, according to Crunchbase, including investments from Amazon and Ford.Visit Business Insider's homepage for more stories.There are no compromises in the R1T pickup truck or R1S SUV, according to the company.They'll hold up off-road and beat a Porsche 911 GT3 from 0-60 mph.
Sometimes you need scrambled eggs.And with that thought, toady at the Overland Expo in Flagstaff, AZ, Rivian announced a major accessory for its electric pickup: A camp kitchen.The unit slides out from the Rivian R1T’s so-called gear tunnel that lives between the bed and cab.The kitchen includes storage and a stove that’s powered by the R1T’s 180kWh battery pack.This kitchen unit is the first significant concept Rivian has unveiled for the pickup’s unusual gear tunnel.And now, with this kitchen unit, Rivian is responding to the questions.
We at Roadshow have been pumped for the Rivian R1T electric truck since we saw it in the metal at the 2018 Los Angeles Auto Show and now we're even more excited because Rivian has turned it into an overland camping rig for Overland West in Arizona.The R1T made its Overland West debut on Friday as the first electric vehicle to be shown there, and it is a little different from the vehicle we saw in LA.Instead of merely having a pass-through tunnel behind the cab, Rivian has installed a brilliant-looking cooking station that slides out and is packing a custom electric camp stove.To keep the overland theme going, Rivian bolted a rack to the bed of the R1T and tossed a tent on it.It's not something we'd trust on the African savannah, for example, but for a leisurely trip through the woods of California's Sierra Nevada, it looks perfect.As for the rest of the R1T's particulars, it's powered by four electric motors and promises to deliver 400 miles of range while producing around 750 horsepower.
Rivian, the once secretive company that made its public debut in November with an electric pickup truck and SUV, plans to give its batteries a second life and put them to work in a solar microgrid project in Puerto Rico.Honnold and Rivian CEO RJ Scaringe will discuss the project Saturday in Denver.The microgrid project will be set up in Adjuntas, a city of about 20,000 people in midwestern Puerto Rico that was severely impacted by Hurricane Maria in 2017.Casa Pueblo, an environmental watchdog based in Adjuntas that has been looking for ways to setup affordable sources of community power, is also a partner in the project.Rivian is providing 135 kilowatt-hour battery packs from its development vehicles to support the microgrid.Earlier this year, battery engineers from Rivian and The Honnold Foundation visited Casa Pueblo and met with community leaders to design a site-specific system that will power many of the businesses located in the Adjuntas town square.
Rivian has only showed off early versions of its R1S SUV and R1T pickup, but the company has not been shy about dishing deets regarding what's under the hood.We already know its battery pack is pretty darn advanced, and its tech is clearly appealing enough to pull in some major investors like Ford and Amazon.Now, we have an idea of what Rivian wants to do with its batteries once they're no longer usable in its vehicles.Rivian announced this week that it has teamed up with the Honnold Foundation, which funds solar power initiatives, for a future project that will use Rivian's "second-life" batteries, also known as a used EV battery that's already done its time in an electric vehicle.The project will see these batteries as gateways to energy independence and renewable power generation, and it'll kick off in Adjuntas, Puerto Rico.Using the 135-kilowatt-hour battery packs from its development vehicles, Rivian will take these batteries and move them into small modules that can collect power from solar panels or other sources, reducing reliance on the grid.
So far, the company has received major investments from Ford and Amazon totaling over $1 billion.The company has progressed by making business decisions no other EV startup is making.Visit Business Insider's homepage for more stories.Rivian is an electrical-vehicle start-up that was founded in 2009 and plans to start producing its two vehicles, the R1S SUV and R1T pickup truck, in 2020.Rivian was recently thrust into the global spotlight when Ford invested $500 million into the company.The unexpected partnership happened only shortly after Amazon made its own investment of $700 million.
Rivian appears to be making a concerted effort to beat companies like Ford, Tesla, and GM to market.As for the rest of the hires, McHale said Rivian is going through the “natural hiring process and is always looking for people with the right skills.”Founded in 2009, Rivian spent nearly a decade in radio silence until last spring.It was only then that Rivian founder and CEO RJ Scaringe started laying out his goals for the startup.He wants to create electric vehicles with vast range and performance that make them capable of handling tough off-road situations, while infusing them with high-end design and technology.The slow drip of information continued until November, when Rivian debuted its luxury electric pickup truck and SUV at the Los Angeles Auto Show.
Rivian doesn’t want to build just another electric vehicle.It’s not aiming to be a Tesla killer either.No, this 10-year-old company that kept a low profile until November, when it unveiled an electric pickup truck and SUV, is aiming to be an adventure brand.Or, as Rivian founder and CEO RJ Scaringe told TechCrunch recently, the company’s technology and products are all meant to “enable people to be adventurous, whether it’s carrying their kids or their pets or their gear.”The world got a glimpse of what Rivian might have in mind earlier this year at the Overland Expo in Flagstaff, Ariz., when the company showed off a prototype of a camp kitchen that pulls out of the electric pickup’s gear tunnel.TechCrunch got an “up-close and yeah let’s tinker around with it” kind of look at the camp kitchen.