Rivian Automotive Inc. (NASDAQ:RIVN) is down 16% in March as the company unveiled its R2 SUV at SXSW this week.
CEO RJ Scaringe called it a “make-or-break product.”
The launch model starts at $57,990, nearly $13,000 above the $45,000 entry price the company has been advertising. That cheaper version? Pushed to late 2027.
Rivian’s CSO Wassym Bensaid told the Wall Street Journal on Friday that only Tesla Inc. (NASDAQ:TSLA) and Rivian have caught on in the U.S. because they had the range, performance and value that customers want.
“We know that there are just two companies in the U.S. who know how to do it: Tesla and us,”
Chinese competitors like BYD, the world’s largest EV maker, kept out of the U.S. by large tariffs.
The …
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