Rivian Gets $1.3 Billion Investment in Electric Truck Venture

Mr. Scaringe, who founded the business that would later become Rivian in 2009, has spent a decade fine-tuning the company’s designs.

Elon Musk, Tesla’s chief executive, said last month on Twitter that the company had received 146,000 orders for the Cybertruck, and three days later seemed to suggest the number had risen to 250,000. Tesla did not respond to a request for the latest number.

Rivian does not divulge a number for reservations. It requires a $1,000 deposit for its R1T pickup, a lot more than the $100 deposit for Tesla’s Cybertruck.

The company says its cheapest R1T can be driven for 230 miles on a charge. Rivian’s website says the starting price of the R1T is $69,000, but on Monday a Rivian representative said a basic model could cost less.

“Our current listed $69,000 start price is representative of a well-optioned vehicle,” Amy Mast, the representative, said in an email.

Tesla says it expects to start producing the Cybertruck in late 2021. The most expensive model will cost $69,000, it says, and the range on a single charge will exceed 500 miles.

Article source: https://www.nytimes.com/2019/12/23/business/rivian-truck-investment.html?emc=rss&partner=rss