Article: Rivian CEO Has Never Been More Confident (with R2, R3, R4, R5, and potentially R6 coming)

[Electric Rivilution]

Rivian CEO Has Never Been More Confident in His Company
RJ Scaringe speaks on the Rivian R2 and R3—and expansion.

https://www.motortrend.com/news/rivian-ceo-never-been-more-bullish

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[Katsudon]

Interesting stat that he expects R2 purchase to outnumber leases by 2:1 ratio.

 

[COdogman]

R6 sneak preview

 

[godfodder0901]

Interesting stat that he expects R2 lease to outnumber purchases by 2:1

That's not even close to what he said. He said he expects 2/3 of R2 to be purchases, not leases.

Scaringe thinks there will be more purchases than leases of the R2. Because it will be priced in the meat of the market, he thinks two-thirds will purchase.

 

[Katsudon]

That's not even close to what he said. He said he expects 2/3 of R2 to be purchases, not leases.

Oops reversed the two when typing. Fixed post.

 

[Donald Stanfield]

I too am bullish on Rivian because the decisions the leadership team has made are sound positioning and long-term thinking decisions.

 

[CarGuyCarl]

Stoked to see the products beyond R3.

 

[iansriv]

I too am bullish on Rivian because the decisions the leadership team has made are sound positioning and long-term thinking decisions.

I like RJ. Don't see a lot of companies out there with his kind of leadership. If they can improve QC and CX, Rivian will do great.

 

[RivAW]

That's not even close to what he said. He said he expects 2/3 of R2 to be purchases, not leases.

Check your math. if 2/3 are purchases, then ~67 out of every 100 will be purchases, with 33 being leases ( that's a ~ 2:1 ratio as OP stated)....

 

[NY_Rob]

It's all going to boil down to price, price, price. Model Y Standard is now $39.9K, the closer Rivian can get to $40K the better as the R2 will be a far superior/more capable vehicle.

 

[beatle]

This isn't actually new, but it's still disappointing to see him reinforce it:

“There is no pickup version of R2,"

This is a real shame as I plan to downsize my next pickup, and I have little hope for the Slate.

 

[godfodder0901]

Check your math. if 2/3 are purchases, then ~67 out of every 100 will be purchases, with 33 being leases ( that's a ~ 2:1 ratio as OP stated)....

Check my post. He initially stated (and what I responded to) was that the R2 leases would outnumber purchases 2:1...

 

[BigSkies]

Big picture success (a globally relevant and profitable car manufacturer) requires vision, capital and execution.

Rivian has the vision, no question.

They have the capital to get to the next stage of growth, albeit with some question marks on that DOE loan.

They've done decently well on execution. There have been some big and obvious misses. Some of it has been self-inflicted (the R1 pricing debacle at launch) and some of it has been external (pandemic related supply crunch). They're mostly getting it right.

The next big milestones for Rivian's success:

1. A successful R2 launch, and demonstrated sustainable demand of ~215k vehicles from the Normal factory.
2. The Georgia factory launching roughly on time with a successful R3 program.
3. Demonstrated success in international expansion sometime in the R2/R3 launch window.

These aren't easy things to do. But everything else is pretty much noise until we get clarity on these.

 

[Aardvark]

Flying under the radar are the EDV and commercial vehicle sales. I wonder if there is a long term roadmap for new models of these also.

 

[Great Gatsby]

This isn't actually new, but it's still disappointing to see him reinforce it:

“There is no pickup version of R2,"

This is a real shame as I plan to downsize my next pickup, and I have little hope for the Slate.

I'm not really a truck guy, but an R2T would be very appealing. I still haven't reserved an R2, but if an R2T gets announced, I would be very interested in that. A $45k electric pickup sounds way more palatable than a $70k one. One cay say the same for an SUV, but a 3rd row is worth it for a lot of people. Hopefully this changes in the future if the R2 sells as expected.

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