- Electric vehicle startup Rivian showed off its pickup truck and SUV at an event in San Francisco yesterday.
- The first batch of Rivian all-electric R1T trucks are scheduled to be delivered at the end of this year, followed shortly by deliveries of R1S SUVs. The R1T pickup with 300 miles of range is expected to list at $69K and the R1S SUV with similar range at $72K. Tesla's (NASDAQ:TSLA) legal victories in key states like Michigan should help clear a path for Rivian to sell directly to customers.
- Amazon (NASDAQ:AMZN) was an investor in Rivian's $700M funding round last year and ordered 100K electric delivery vehicles from the company to be delivered over a long timeframe. Ford (NYSE:F) and Cox Automotive are Rivian investors as well. Ford is also a manufacturing partner with the EV upstart, providing a "skateboard" platform that includes the motor, battery pack, computer systems and wheels. "They will provide the top hat, the body and the interior," notes Rivian CEO R.J. Scaringe on the arrangement with Ford.
- Rivian has its headquarters in Plymouth, Michigan and a manufacturing site in Normal, Illinois.