Dead Batteries: Weak EV Earnings Reports Send Rivian and Lucid Shares Tumbling
Electric vehicle makers Rivian and Lucid both suffered plummeting share prices after disappointing fourth-quarter earnings reports revealed stagnant production numbers.
Rivian
Green Trucks, Red Ink: Rivian Loses $33,000 for Every Electric Pickup Sold
Rivian Automotive, a market leader in producing electric pickup trucks, has struggled with producing electric vehicles (EVs) that can accomplish tasks their gasoline engine counterparts handle with ease. A new report from the Wall Street Journal shows the company also struggles with profitability. The company reportedly loses an average of $33,000 for every truck it sells.
CEO of Electric Truck Company Rivian Compares Buying Gas-Powered Car to ‘Building a Horse Barn in 1910’
RJ Scaringe, the CEO of Rivian, an electric truck company notable for recalls and its vehicles’ trouble handling snow, recently shared his insights on the future of the automotive industry, comparing the purchase of internal combustion engine (ICE) vehicles to “building a horse barn in 1910.”
California Man Left Stranded in Wyoming Mountains when Rivian Electric Truck Runs Out of Juice
A man from California learned a hard lesson about electric vehicles (EVs) after his Rivian truck ran out of battery charge had to be towed out of the Wyoming mountains.
EV Fail: Rivian Electric Truck Owner’s ‘Honeymoon Phase’ Ends When It Gets Stuck in Snow
The owner of a Rivian R1S electric SUV was overjoyed to have his dream electric vehicle after waiting for years. But after owning the car for just days, it got stuck in the snow and immobilized by a safety feature, leading to a $2,100 bill to transport it to a repair facility.
Electric Trucks Lose Their Spark: Rivian Reports Weak Earnings, Stock Drops Almost 17%
Rivian, the electric vehicle startup aiming to compete with Tesla, posted lower-than-expected Q4 revenue, leading to a share price drop of almost 17 percent in morning trading.
‘Con Man:’ Founder of Electric Truck Company Nikola Convicted of Fraud
Trevor Milton, the founder of electric truck maker Nikola, was convicted of fraud after being accused of bragging about nonexistent technology in an attempt to inflate his company’s stock price. “Trevor Milton is a con man,” Assistant U.S. Attorney Jordan Estes said. “He lied to investors to get their money, plain and simple.”
Electric Vehicle Fail: Rivian Recalls Nearly All Trucks Produced Due to Flaw that Could Cause Loss of Control
Electric truck and SUV maker Rivian Automotive said on Friday that it is recalling nearly all of its vehicles because the company had improperly installed fasteners, which could potentially cause the loss of steering control.
Embarrassing EVs: Ford and Rivian Recall Yet More Electric Cars and Trucks
Several electric vehicle makers have announced recalls of their newest cars. Ford and Rivian are both undergoing fresh recalls, but they have quite a ways to go before they catch up to Tesla, which has issued 13 recalls impacting 2.3 million vehicles.
Amazon Posts $2 Billion Quarterly Loss as Rivian Investment Tanks
Amazon announced a $2 billion loss for the second quarter this week. Although the company performed well against expectations for sales, the e-commerce giant also took a massive hit over its large investment in electric truck company Rivian.
‘George Soros Company’: Electric Vehicle Plant Deal Emerges as Flashpoint in Georgia Governor’s Race
A multibillion-dollar electric vehicle plant coming to a rural site outside of Atlanta has become a source of contention in Georgia’s Republican gubernatorial primary race.
Tesla Rival Rivian Is Worth More than Ford or GM – Despite Only Delivering 156 Vehicles
Amazon-backed electric vehicle maker Rivian went public this week with the largest IPO in the U.S. since 2014. The company now has a higher market value than Ford or GM despite the fact that the company has only delivered 156 vehicles so far.
Jeff Bezos Commits Amazon to Saving the World from Climate Change
Amazon CEO Jeff Bezos has unveiled a sweeping climate-change plan that commits the online retailer to meet the goals of the Paris Climate Agreement ten years early.
Watch: Electric Ford F-150 Pickup Prototype Tows More than One Million Pounds
An electric Ford F-150 pickup truck recently towed more than one million pounds of rail cars for 1,000 feet at a recent demonstration of the company’s ambitions to enter the electric vehicle market.
Amazon Leads $700 Million Investment in Tesla Rival Rivian
E-commerce giant Amazon has led a $700 million investment round in Rivian, a direct competitor to Elon Musk’s Tesla which hopes to produce a consumer-level electric pickup truck.
Report: Amazon, GM in Talks to Invest in Tesla Rival Rivian
Amazon and General Motors are reportedly in talks to invest in electric car manufacturer Rivian, which could spell trouble for Tesla.
