Electric vehicles are getting better and better than gasoline cars. The signs are everywhere, of
and now from Rivian.
Electric vehicles are making gains. Prices go down and performance goes up. A Tesla (ticker: TSLA) Model S Plaid Edition is the fastest car ever made on a conventional assembly line. It can go from zero to 60 mph in less than 2 seconds, propelled forward by over 1,000 horsepower. A modified
(VOW.Germany) The ID EV model holds the record for running from Pikes Peak to the clouds, a climb up a mountain in Colorado. A Tesla Model 3 holds the production car record for the ascent of Pikes Peak.
Now, reviews are pouring in for the new all-electric lightweight pickup truck, the Rivian RT1. They are tall.
– truck kings – better hurry to develop their all-electric truck options.
Car and Driver and Consumer Reports gave the Rivian RT1 2021 solid reviews late last year. Most recently, Motor Trend drove the 2022 RT1 in late August and called it “the most remarkable pickup [they’ve] never driven ”, and asked readers“ are you ready for the electric truck revolution?
In terms of size, the 2022 RT1 sits between a Chevy Colorado and a
F-150. It’s as fast as a sports car, going from zero to 60 mph in less than 3 seconds. And it’s tough as a truck, towing up to 11,000 ponds, as much as an F-150.
The truck is powered by four engines and four-wheel drive settings that provide excellent handling and excellent off-road performance. There are also several driving modes – adjusting the transmission to two wheels can help save battery power. The base model RT1 comes with an estimated range of 300 miles.
Deliveries are expected to start in January 2022.
Motor Trend looked blown away. His only coup: the magazine didn’t like the driver’s interface. Too much has to be controlled by touch screens. There are not enough buttons for them.
Ford and GM had better take note. They are the king of trucks with about two-thirds of the US light truck market. In addition, trucks are more profitable than cars for GM and Ford. The company has not confirmed this, but Wall Street analysts believe it and few, if any, dispute the idea.
Ford plans to launch its electric F-150 in 2022. GM has an upcoming electric Hummer and an electric SUV for Cadillac. These are expected around 2023. Its electric Chevrolet Silverado is expected to be sold around the same time.
GM might want to revisit those launch dates. The company was not immediately available for comment if a schedule change could be considered.
Rivian recently filed documents with securities regulators to raise funds for an initial public offering. The company is said to be looking for a valuation of $ 80 billion. It’s more than Ford and GM. Whether a good truck is worth Rivian’s worth is a question for investors to ponder.
“Rivian’s target market will be the Connecticut Cowboys or those who don’t really need a pickup for their intended use,” said Benchmark analyst Mike Ward. “Commercial customers represent more than half of the pickup market – customer loyalty, reliability and service are essential for the commercial side of the market. “
GM and Ford stocks have not done well recently. GM shares are down 14% in the past month. Ford stock fell 6%. The
Dow Jones Industrial Average
increased by 3% and 1% respectively.
Competition from electric vehicles, however, does not appear to be the main reason. The global automotive semiconductor shortage that limits automotive production appears to be the cause. GM gave weak guidance for second half 2021 results when releasing its second quarter figures. A lack of chips is a big reason. The lingering shortage has dampened investor enthusiasm.
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