All-electric vehicle maker Rivian is dealing with a lot: the end of federal support for EVs, a surge in hybrid vehicle sales and a rate of cash burn that still alarms investors, among other things. The company also has relatively low production and delivery numbers , but Rivian CEO RJ Scaringe told CNBC in a December interview that's not the full story.
⁘The R1 is the best-selling premium electric SUV in the United States,⁘ he said, adding that it has been a top-selling premium SUV of any kind in the state of California. But the R1S carries a nearly $80,000 starting price. Rivian's hope is that the upcoming, less expensive R2 model can repeat that same success in the far larger midsize, mid-price SUV EV market.
The R2 looks like a smaller R1S. Someone sitting inside will notice Rivian's familiar style and design language throughout the interior. It has Rivian's recognizable headlights. And it's much the same shape, with a long, flat roof that lets a 6-foot-1-inch person sit in the rear seat without slouching. ⁘It's a smaller vehicle,⁘ Scaringe said.
⁘But I think this is the best vehicle we've developed to date. We're incredibly bullish on this and excited for it. Of course it's cheaper, but it doesn't mean it's not an aspirational product, something that you're really going to enjoy and love to be in.⁘ ⁘Watch this,⁘ Scaringe said as we were driving on the freeway.
He kicked the accelerator and the R2 shot forward. EVs are known for fast acceleration, but this might stand out for its class. We didn't drive off road, but Scaringe said the R2 is trail-worthy, though customers shouldn't expect the more than 1,000-horsepower, go-anywhere capability of the $120,000 R1 Quad. Looking to read more like this: See here
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