“Consumer Reports has released its latest owner satisfaction survey results. Rivian is taking the top spot for the second year in a row, an impressive feat for a relatively new automaker.” ⚡️
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“Consumer Reports has released its latest owner satisfaction survey results. Rivian is taking the top spot for the second year in a row, an impressive feat for a relatively new automaker.” ⚡️
Kahua helps you manage construction project and program costs, documents and processes from inception through turnover to improve efficiency and reduce risk. | Ex @Aconex
2w💪🏾
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This post is about missed opportunities in automotive. Perhaps we can learn from our mistakes? No. 1 — I think Tesla should have built a normal (sorry Cybertruck fans) pickup truck a la Rivian. Where Rivian suffers to produce, Tesla could have nailed this, and I would have bought one. Cybertruck is interesting, but let's remember who really buys pickups and what they typically cost. On that note, Rivian should have built a cheaper vehicle out of the gate — just sayin'. No. 2 — Ford Motor Company should have doubled down on a hybrid (of the PHEV variety) F-150 and made it affordable. The Lightning is too expensive and impractical for blue collar folks. For the urban dwellers a Maverick EV has potential. You are THE truck people — so do it right! No. 3 — Tier-1s are missing embedded consulting arms. As an example, I tried to sell Wind River on a consulting-focused team a number of years ago, but they begged off saying rates weren't high enough (missing the point of supporting overall product sales). Aptiv fielded one recently, but I believe the momentum is lost and their optimally positioned (and unique) SDV offering will suffer. No. 4 — Stellantis (I'm a six-figure stockholder 🤕) has taken too long to bring the serial hybrid to market, and like all their offerings will be too expensive and suffer with a horrible dealer network. I am a huge fan of Alfa Romeo, Fiat and Jeep brands but have driven nothing compelling that comes in at the right price point. No. 5 — Mercedes-Benz AG is taking a beating on EVs. First off, as an owner of an incapacitated Metris (due to electronics gremlins), I would trust nothing electrified/software-defined from Merc. I love their vehicles (🎵 Lord won't you buy me a G-Wagon 🎶), but the EV market is tapped out, and well-heeled buyers don't go in for massive depreciation. MB, focus on what you do best. luxury and commercial ICE. No. 6 — Volkswagen, one of the loves of my life (I own 3) has stopped producing heart-pounding bargain performance vehicles and things which make people smile. I think the foray into Scout Motors Inc. is a mistake, but it appears it will be corrected with a re-badged Rivian. What's going on with CARIAD? I love German machines and I have a soft spot for beyerdynamic headphones, but software is not your thing VW. Maybe if you enlisted the help of brethren SAP or Siemens? For software, double down and enlist us annoying Americans, or move on. No. 7 — Now I'm going to critique the EV approach of EU and USA. Instead of pushing EV mandates you should have been driving innovation, and investing in the right EV use cases, instead of trying to blanket the world in batteries all at once. Focus, focus, focus. Electrify cities, equip fleets with EV, only subsidize small affordable EVs, and do not penalize ICE owners for their personal choice — they might buy an EV as a 2nd vehicle. EV will find its place in this world without pushing. I could go on. Maybe tomorrow? #automotive #strategy #6fingers
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This is a huge moment for Rivian, reaching above the 100,000 units mark for R2 pre-orders. I figure this represents a minimum of $5B in gross revenue when fulfilled. The pre-orders are growing organically well above the current confirmed figures in place, plus they are selling the Gen 2 R1T and Gen 2 R1S, with some incredible upgrades and efficiencies that are nothing short of mind bending. Rivian electric motors are now made fully in-house in the USA as the Company moves closer to vertical integration, part of its plan. In its inaugural year, Rivian sourced electric motors from Germany's Bausch. I suspect the shorter wheel base R3 line with the more formidable triple motor top dog R3X will hit double to triple this quantity in immediate pent up demand once their $5B Georgia plant is online and Rivian opens up pre-orders for the R3 line! Kudos to RJ Scaringe and the entire Rivian team. These figures are domestic only. It will be interesting when folks in Germany and abroad can buy this brand. Very few analysts cover this segment well beyond Dan Ives and a few other exceptions to the rule. The main reason is auto industry analysts are often covering the 20th century definition of the Auto Industry, yet they do so in 2024., as though time stood still. Truth be told, there are two types of OEMs. One sees itself producing a commodity, a hardware device with a vast supply chain. The other ( i.e. Tesla and Rivian) are technology companies first, driven by sophisticated software and AI models that make the EV itself probably your most powerful computational device unless your a data scientist. To close, I own a Rivian EV R1T and am blown away at its road and off road capabilities plus it's lux fit and finish. All this is from a true auto enthusiast, meaning RJ and team studied this market intensely and are now delivering. Rivian is dialed in..... Cheers!
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The WSJ writes, companies like Rivian Automotive, Lucid Group and Fisker are burning through their cash reserves as they spend heavily on expanding factory production and sales—all while losing money on every vehicle they sell. For consumers, the increased competition translates into steep discounts on some of the flashiest EVs. But for EV automakers, a slowdown in demand starts the clock that might determine how long they can keep the lights on. Many of these companies first unveiled innovative battery-powered cars and SUVs in 2018 and 2019, following Tesla’s pioneering success in the new market. It seemed like an army of upstarts was poised to supplant stodgy giants such as Ford Motor and Toyota Motor Corporation as the next household name in the industry. These young companies went public at stratospheric valuations, even though many had no revenue and little experience building a car. Investors, analysts and ordinary shoppers believed EV makers could emulate Tesla’s success in disrupting the traditional car market. Rivian’s market value briefly surged higher than that of Ford or General Motors. Now, these companies are fighting to stay afloat amid stiff competition. Sales of battery-powered cars and trucks have been weaker than expected in the US, leading companies from Ford to Tesla to slash prices to jump-start demand. Too few buyers have been willing to switch to BEVs, worried about the relatively high sticker prices, still-nascent charging infrastructure, and the long-term reliability of EVs. Money-losing startups are pulling back on spending and delaying investments as they seek to conserve their remaining cash. Some, like electric-pickup maker Lordstown Motors and battery-powered van company Arrival, have already filed for bankruptcy, and others are producing only a trickle of vehicles. These carmakers that went public in an era of low interest rates and rising buzz around EVs now have to prove they can withstand tougher conditions. They say they are focused on stabilizing their cash-bleeding operations, but not all of them will weather the storm. A tough road ahead, to be sure. Our Take: Autos are a tough sector. Doubly so when you're trying to sell vehicles that are, on balance, twice as expensive and only half as good as those they seek to replace. 🚘 🔌 👀 #automakers #EVs #mobility
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The author says it all in his recap in the last paragraph: "Our Take: Autos are a tough sector. Doubly so when you're trying to sell vehicles that are, on balance, twice as expensive and only half as good as those they seek to replace." Probably the single best and most succinct summary of the Battery Electric Vehicle market that I have ever seen.
The WSJ writes, companies like Rivian Automotive, Lucid Group and Fisker are burning through their cash reserves as they spend heavily on expanding factory production and sales—all while losing money on every vehicle they sell. For consumers, the increased competition translates into steep discounts on some of the flashiest EVs. But for EV automakers, a slowdown in demand starts the clock that might determine how long they can keep the lights on. Many of these companies first unveiled innovative battery-powered cars and SUVs in 2018 and 2019, following Tesla’s pioneering success in the new market. It seemed like an army of upstarts was poised to supplant stodgy giants such as Ford Motor and Toyota Motor Corporation as the next household name in the industry. These young companies went public at stratospheric valuations, even though many had no revenue and little experience building a car. Investors, analysts and ordinary shoppers believed EV makers could emulate Tesla’s success in disrupting the traditional car market. Rivian’s market value briefly surged higher than that of Ford or General Motors. Now, these companies are fighting to stay afloat amid stiff competition. Sales of battery-powered cars and trucks have been weaker than expected in the US, leading companies from Ford to Tesla to slash prices to jump-start demand. Too few buyers have been willing to switch to BEVs, worried about the relatively high sticker prices, still-nascent charging infrastructure, and the long-term reliability of EVs. Money-losing startups are pulling back on spending and delaying investments as they seek to conserve their remaining cash. Some, like electric-pickup maker Lordstown Motors and battery-powered van company Arrival, have already filed for bankruptcy, and others are producing only a trickle of vehicles. These carmakers that went public in an era of low interest rates and rising buzz around EVs now have to prove they can withstand tougher conditions. They say they are focused on stabilizing their cash-bleeding operations, but not all of them will weather the storm. A tough road ahead, to be sure. Our Take: Autos are a tough sector. Doubly so when you're trying to sell vehicles that are, on balance, twice as expensive and only half as good as those they seek to replace. 🚘 🔌 👀 #automakers #EVs #mobility
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Rivian continues to prove that drivers want capable, well-built EVs from an American automaker. 💪 In its first quarter 2024 financial results, the automaker exceeded expectations, delivering 13,588 units while also revealing the new R2, R3, and R3X. 😎 The Illinois automaker announced that it produced 13,980 vehicles, delivering nearly all of them. Rivian manufactured 49% more vehicles and sold 71% more vehicles compared to the first quarter of 2023. These impressive numbers made the 2024 Rivian R1S the best-selling EV above $70,000. 🤩 Excitement about the automaker continues to build after unveiling three new models. Rivian shared that it will begin producing the midsize R2 in 2026 using its facility in Normal, Illinois. Staying in Illinois saves the automaker over $2.25 billion compared to the original plan to move production to its facility in Georgia. 🤝 Get the full story from Kristen Bentley at the link below! 👏 https://lnkd.in/ektE-D_x #ElectrifyNews #EV #ElectricVehicls #Rivian #ElectricCar
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https://lnkd.in/dBFsncQy U.S. automakers lose roughly $6,000 on every $50,000 EV they sell in America, according to a new report from analyst firm Boston Consulting Group (BCG). That figure comes hotly on the heels of similar sky-high losses from companies like Rivian and Lucid. Earlier this year, Rivian revealed that it lost $33,000 on every truck sold, while Lucid topped that figure with its eye-watering $400,000 losses on each car sold. this will force OEMs to shift to lower price EVs with less equipment and hopefully less weight & carbon impact (plus investing in technology to reduce manufacturing costs)
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Explainer: What’s behind Volkswagen’s USD 5 billion EV software bet on Rivian? – ET Auto Shifting from combustion engine to electric cars requires expertise in areas where historically Volkswagen has little experience, from charging to batteries to software. Volkswagen , Europe’s biggest carmaker, plans to spend as much as USD 5 billion on an electric vehicle (EV) software partnership with U.S.-based Rivian. Here are some of the key issues around https://lnkd.in/gqgScxY8
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https://lnkd.in/g6Ap__EF Shares of Rivian Automotive, Lucid Motors Group, and Tesla Motors moved lower during the cash session in the US after Ford Motor Company Motor announced price cuts for its electric F-150 Lightning pickup truck amid concerns about sliding demand across the EV industry. Meanwhile, an EV price war between the automakers rages on as unprofitable EV startups struggle to survive. Let's begin with a Bloomberg report that says Ford is reducing the price of its Lightning pickup truck by up to 7.5%. Earlier this year, the company paused production of the truck and is set to resume production later in the month The largest price cut is on the Flash extended-range model, where customers could expect to save $5,500. The model now starts at around $67,995. Ford told Bloomberg that price cuts will help it "adapt to the market to achieve the optimal mix of sales growth and customer value."
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Rivian just smashed its own delivery forecasts for Q2 2024, delivering 13,790 vehicles. ⚡️ Although this is only a 1.49% increase from their Q1 2024 deliveries, it still highlights their ability to consistently meet and exceed their targets. They outdid themselves, projecting between 13,000 and 13,300, leaving analysts’ forecasts of 12,000 in the dust. 👀 In Q2 2024, Rivian produced 9,612 units at their Normal, Illinois plant, maintaining their full-year production goal of 57,000 units. 💪 The factory in Normal, Illinois, will produce the R2 along with the R1S, R1T, and commercial delivery vehicles. In the first half of 2024 alone, they delivered between 26,600 and 26,900 vehicles and produced 23,100 to 23,300 units. Additionally, Rivian is giving the 2025 R1S and R1T updates for the 2025 model years. 🤩 Get more to the story at the link below! 🙌 https://lnkd.in/eZ9K2Gjg #ElectrifyNews #EV #ElectricVehicle #Rivian #ElectricTruck
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Navigating the EV Market Slowdown: Rivian CEO's Strategy for Success Rivian CEO RJ Scaringe discusses the challenges facing the electric vehicle (EV) industry, noting a slowdown in growth. He attributes this to high interest rates, geopolitical uncertainties, and shifting market dynamics, which have particularly impacted newer EV companies like Rivian. Despite delivering more vehicles in 2023, Rivian reported a significant loss of $5.4 billion. The company is focusing on cost-cutting measures and increasing production efficiency, aiming for profitability by 2025. A recent partnership with Tesla to access their Supercharger network is a strategic move to enhance customer experience and drive EV adoption. Scaringe remains optimistic about Rivian's future, emphasizing the company's strong brand and market presence. For more details, you can read the full article on Business Insider https://lnkd.in/enYWAfpW #EVIndustry #Rivian #Tesla #ElectricVehicles #Sustainability #Innovation #Automotive #EVGrowth #TechNews #RJScaringe
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Improving Customer Experience and Profit through better selling and service
2w“. . . an impressive feat for a relatively new automaker” Wow: Pleasing customers!