Yesterday, the truck manufacturer Rivian revealed that it had made a $ 350 million investment from Cox Automotive. Cox Automotive is a car services company. According to a press release, Cox's president, Sandy Schwartz, said: "We are excited by Rivian's unique approach to building an electrified future and to be part of the positive impact its products will have on our paths and the world around us."  Cox will add only one representative to Rivian's board, and Rivian will remain an independent company. In this article we will see how Rivian's vehicles can stand against Tesla & # 39; s (TSLA) and whether Rivian can become the new Tesla killer. Before that, however, let's dive into the history of Rivian and consider the competition.
Amazon and Ford have already invested
Prior to this investment, Rivian had already attracted significant investment this year. In February, Amazon (AMZN) invested $ 700 million in the company. In April, Ford (F) invested $ 500 million. Ford is already investing $ 1
Legacy Electric Pickup Plans by Manufacturers
Ford plans to launch its own all-electric F-150 pickup truck on the Market. Ford released a video of its electric F-150 in July. The video shows how the vehicle weighs 1.25 million pounds. The truck can be unveiled immediately after 2021. The Ford F-150 remains the best-selling pickup truck in the United States for 42 consecutive years. The company is expected to do everything it can to maintain market dominance in space, even if it means launching electric versions of its traditional trucks.
General Motors (GM) said in April that it was also developing an all-electric truck, According to WardsAuto GM's president, Mark Reus, said: "We will have a complete electric range, including a pickup truck underway. However, its electric pickup is likely to take a few years to
The market for electric vehicles and autonomous driving can offer a huge opportunity for progress and many high-tech companies do not want to miss out. Alphabet (GOOG) and Apple (AAPL) have also jumped into this space.
Trucks and Jeeps: Bright Spots on the False Automobile Market in the US
US consumers are increasingly shifting from cars to trucks and SUVs. This space remains a prominent place in the overall unsuccessful US auto market. Automakers, including Fiat Chrysler (FCAU), Ford and General Motors (GM), are increasingly concerned about this market. They have also been involved in price wars to gain market share in this space. This may be why startups, legacy car makers and Tesla have sought to make electric pickup versions.
Could Rivian be a real Tesla killer?
Analysts believe Rivian could pose a serious challenge to the upcoming Tesla truck electric pickup. Rivian unveiled his R1T pickup and SUV R1S at the Los Angeles Auto Show in November 2018. The company expects to make these vehicles accessible for 400 miles. It plans to release them in the US in late 2020.
Tesla may unveil its pickup truck in November
On September 7, Tesla CEO Elon Musk suggested in a tweet that Tesla could unveil its electric pickup truck in November. In terms of price, Musk said it would have a target price below $ 50,000. According to CarandDriver, the R1T is expected to go on sale by the end of 2020, starting at $ 69,000. The range for a pickup truck, as hints from Musk can be 400-500 miles. Musk teases various other features of the truck, including 'electrical contacts allowing the use of heavy duty 240V, high power tools throughout the day. No generator required. "We discuss the Tesla pickup truck in more detail in" Can Tesla dominate the electric pickup market? "
Rivian learns from Tesla's experience
Rivian's CEO, RJ Scaringe, is aware of the competition that Tesla's Rivian cars may face. He is also determined to learn from Tesla's attempt to refine Rivian's vehicles. As reported by Teslarati, referring to Scaringe's interview with the fast lane car he said: " So we take a huge amount of time to resolve the service."
you should keep in mind that Tesla's after sales service has many options for improvement. We still don't know which car manufacturer can come out on top of the electric pickup segment, but at least Rivian is focusing on the right things to start with. What's more, he has the financial backing of deep-pocketed investors, including Jeff Bezos.
Tesla vs Tesla Killers
Over the years, several cars have been called potential Tesla killers. Almost every new EV launch is compared to Tesla. Since Tesla is a pioneer in EV space, it is no surprise that analysts and market players view Tesla as a benchmark for other EVSs. However, no automaker has managed to retain Tesla's dominance in the US EV market. While some automakers are able to achieve the best Tesla cars in one segment, they usually lag in another.
The Chinese NIO (NIO) was initially regarded as a strong challenger to Tesla. However, after many IPOs, the company is already struggling with supplies. GM's Chevrolet Bolt is also seen as a competitor to Tesla's Model 3. However, despite the lower price and the advantage of the original engine, Bolt sales failed to come out. Jaguar and Audi also released several electric models. However, their sales volume in the US does not indicate that they are great challengers to Tesla.