Hi everybody and welcome back to the Elon Musk podcast.
I'm your host will Walden. And on today's episode, we'll be
talking some about rivi and the competitor to Elon musk's Tesla
auto rhydian Innovative automaker in the room rate is
Making Waves in the EV industry as it accelerates its
successful. First quarter of 2012, T3 and
after a stellar production ramp the company.
Now, faces an array of challenges from its second
generation, are to vehicle to profitability.
And the ongoing are one truck ramp rivi and CFO Claire Rua.
McDonough recently, shared exciting updates at the Bank of
America, security Summit covering these topics and more,
and notice how these coincide with things that Tesla is doing.
Now, the news first broke on Twitter Curtis, Vivian updates
and a comprehensive thread summarizing.
The numerous announcements. The main highlights included
updates on our one production, the van production ramp R2 and a
few other noteworthy developments, now R1 production,
it's the fast track to profitability.
What are the most significant announcements for the summit
concerned Vivian's Flagship truck?
The R-1 lineup company is on track to achieve profitability
by the second half of of 2024 driven primarily by R1 and Van
deliveries through the total number of backlog orders.
It wasn't really disclose McDonough revealed that all pre
March price, increase orders are expected to be completed by mid
20, 23 with a backlog, extending well into 2024 for orders.
Placed after the price increase, at an interesting trend has
emerged, among Ravines new customers Rising average price.
For its trucks. This suggests that more premium
buyers are gravitating towards the automaker and are willing to
splurge additional add-ons. Despite this revision has no
plans to increase the base price of it's our one Vehicles.
Now, looking ahead, they revealed that the company aims
to produce eighty five thousand Vehicles by 2026.
A figure that has been kept Under Wraps until now the art to
its kind of their new thing and as the rivi and our one vehicle
continues to gain traction, anticipation for the company's
next generation are two trucks is been steadily building
throughout the industry, rivi, and CEO RJ square inch has
hinted at a more affordable model, but other details have
been scarce investors were intrigued by mcdonough's bold
estimate of our to production slated, to begin between Auntie
25 in 2026 and rivi and aims to produce 200,000 are two trucks
in 2026 with the goal to double that figure in the future and
there's no time frame for this target at this point.
Now rivi and remains tight-lipped about the new
trucks Market position and McDonough mentioned that it aims
to compete with luxury volume sellers like the Tesla Model.
Why this has led to speculation that the truck could start at
around forty thousand dollars, u.s.
Additionally, the R2 is expected to be a global vehicle available
in multiple markets. Currently constrained by Supply
Raven is predominantly in North American brand but Europe is
likely to be their next Target. Now they're going to be doing
some new things to. There is an electric delivery
van Full Speed Ahead for this van, despite Amazon's recent
announcement to reduce its van purchases.
He this Year rivi and remains committed to the production ramp
of its electric delivery van the E DV which has been making a
splash All Over America and the company's CFO highlighted that
the edv takes Enduro motor priority over the dual motor R1
Vehicles. Then also receive two
significant production of grades and quarter.
One the integration of a new motor and Ravines new lfp
battery pack. Now there's infrastructure
involved with Vivian as well. Now it's called The Adventure
Network. In addition to updates in these
new vehicles Arabian also revealed plans for its Adventure
Network, charging infrastructure, the automaker
will join the federal charging Fund in the United States to
accelerate development. Making it eligible for federal
incentives to expand its charging Network.
However, this move will require revision to open its Network to
other V's. Despite this, the potential
benefits are hard to ignore with the federal government willing
to cover up to 80% of installation.
Costs. Many of you Ravines decision is
a wise one and ribbon has a bright future.
They still have to compete with Tesla and that's going to be
hard. But these new announcements
indicate that Ravine is on the right track for continued growth
and success in the EV Market as the company pushes forward with
our one production. They Set ambitious goals for the
are two in the expand. The charging infrastructure.
It's clear that Ravine is not only meeting challenges head-on
but also setting the pace for innovation in the industry fans
and investors alike, can't help but be enthralled with what's
going on over a trivia on the progress of the company, they're
eagerly awaiting for the developments as rivi and
continues to make a mark on the EV landscape and with a bright
future on the horizon, Ravine is Is to become a formidable
contender in the global market against Tesla and they'll create
ripples of change that will be felt across the automotive
World, a recent events and announcements from avian at the
Bank of America. Security Summit have generated
considerable excitement, and interest from both investors and
fans of Rivia, I want to know how you feel about this.
If you have a way to comment on your platform, please take a
second and leave a comment about what do you think about
revision? and from the updates on the R-1
production and profitability to the unveiling of ambitious
production goals for the new, AR 2 model and even the expansion
of its charging infrastructure Vivian's demonstrating, its
commitment to Innovation and growth in the EV industry and as
a company gears up to tackle, the challenges lie ahead in the
next few years, the world watches and we hope that they
can become a Challenger for Tesla because with more
competition It breeds better Innovation for both companies
and all EV makers around the world.
I want to say thank you so much for listening today.
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Take care of yourselves at each other.