Rivian, which is a twelve-year-old electric vehicle company and is backed by Amazon, has filed for preliminary public providing. Rivian being backed by Amazon is seen as the biggest threat to the Tesla industry but currently is searching for a valuation for the excessive of $80 million. This works in immense favor and will help in establishing and strengthening the company’s position making it the world’s most beneficial and profitable automaker with a value even higher than Ford or GM. If you are not yet aware of Rivian’s electric vehicle, then you would be surprised to know that Rivian’s first electric vehicle stock has a $73,000 pickup and is expected to start its delivery in September.
The second mannequin is $75,500, which is a seven-seat SUV that is also anticipated to be launched 12 months after the launch of the previous model.
Some say that the launch of the Rivian electric vehicle has the perfect timings but there are differences regarding the hybrid electric vehicle. Regarding the latest issue ordered by President Biden, states that all the electric vehicles and automobiles will account for half of all the new auto gross sales that will take place in the US by the year 2030. This has resulted in many automakers and manufacturers shifting their production of automobiles to electric vehicles for the subsequent twenty years.
The main aim of this initiative is to build more public infrastructure for future use, preferably within twenty years. The aim is also to build sufficient chargers out of the way, so the issue of discharge is also out of the question and does not provide a hindrance at all to the public usage of electric vehicles. So, apart from the increased manufacturing of electric vehicles, the next focus is made on the electric vehicle charging stations.
There is an enormous difference between Tesla and Rivian in the kind of electric vehicles that each one of them is promoting. Rivian was based in 2009 but remained secretive until it came out recently in the year 2018 and introduced its first fashions that were a pickup truck and an SUV which was meant for off-road driving. Thus, we can chalk out the major difference here in how Tesla’s production is different as it solely focuses on the promotion of automobiles and crossovers. Moreover, Tesla’s first pickup truck, which goes by the name of Cybertruck in 2019. Even though the deliveries have been delayed till 2022.
Just like we have seen Tesla promoting its automobiles and crossovers, in the same way, Rivian is also promoting dwelling chargers, therefore, promoting the growth of the nationwide charging community. The original plan of Rivian is to set up 10,000 electric vehicle charging stations by the end of the year 2023. Also, all the electric vehicle charging stations will not be set near each other but rather at a distance. Quite similar to Tesla, Rivian has also achieved a successful investment in its hands-free and semi-autonomous driving. The new electric vehicles also come with a special set of features which is known as Driver+. Driver+ is very much like Tesla’s autopilot mode due to which Rivian got into trouble as Tesla filed a lawsuit against Rivian and accused it of stealing Tesla’s commerce secrets and techniques after Rivian hired its former employees. Thus, this has been quite a roller coaster for both Rivian and Tesla which only has intensified the rivalry and competition between the two.
Industrial shoppers find Rivian quite interesting along with the personal influential backers. Rivian has also collaborated with different organizations for funding startups and Amazon has been among one of them. Amazon has spent its last 12 months in the purchase of 10,000 electric vehicles by the year 2030. Even Ford has changed the plans for its launch. According to the official statement released by Ford, there were initial plans to launch its electric model of the famous F-150 pickup truck for the subsequent 12 months was also delayed. Rather Ford has invested in more than half a billion dollars in the set up of the electric automobile startup.
Now according to electric vehicle news, the timing has been a little complex for everyone. It is evident that president Biden has been very much attracted and inspired by electric vehicle technology and his administration has already started the federal fleet of SUVs, automobiles, and vans. Biden’s administration also aims to allocate $174 billion for the construction of 5000,000 electric vehicle chargers all over the country and buy as many as 165,000 electric vans for public use.
Electric vehicles are slowly catching up as the growth in the US is comparatively low as in China and other European countries. The gross sale of electric automobiles for the past 12 months is also comparatively lower than China and Europe but if we take an overall look, the graph is increasing.
Moreover, another big hindrance can be the pandemic era which caused the postponement of the electric vehicle supplies not once but twice thus affecting the sales and causing the manufacturers in delaying the entire plan and process. Tesla might be a big competition to Rivian, but at the same time, it has surpassed all the hurdles posed by it at the same time. So the timing of launch affects all the companies but the legacy of automakers is only getting strengthened and the demand is increasing. Therefore, timing is complex for the launch of the electric vehicle but which time is not complex?