The introduction of Tesla’s Cybertruck is imminent. Experts agree that Rivian could also feel this.
• Tesla is about to introduce the Cybertruck
• Rivian faces competition
• Rivian CEO remains confident
The US electric car manufacturer Rivian seems to be having success with its electric pickups and SUVs. Earlier this month, he announced increasing production and delivery numbers for the third quarter, Forbes reports. In the first half of 2023, Rivian also posted the highest growth rate of any automaker in California, according to figures released by the California New Car Dealers Association (CNCDA). In addition, the R1T is considered the most satisfying electric vehicle this year, emphasized in the JD Power Electric Vehicle Experience Ownership Study.
Rivian vs Tesla
But Rivian could soon have to face prominent competition: Tesla. Because the Musk Group is preparing to introduce its futuristic-looking Cybertruck. Edmunds, an American online resource for automotive inventory and information including car reviews, estimates that this could well become a problem for Rivian.
However, Rivian CEO Robert “RJ” Scaringe remains confident. He doesn’t think the Cybertruck will be in direct competition with his R1T pickup or the R1S SUV. “If you think about the Venn diagrams of customers, there probably isn’t a lot of overlap [mit Cybertruck-Käufern]” he reportedly said at the Code 2023 conference last month, according to Forbes.
Experts express concerns
Ivan Drury, Insights Director at Edmunds, takes a critical view: “This impression may be true for now, but that’s largely because the Cybertruck is currently out of sight and out of mind for consumers, as awareness has declined significantly due to long production delays is,” Forbes quotes from an email from Drury. “This vehicle is technically in a completely different class than any of Rivian’s other offerings. It is far more reasonable to assume that the Cybertruck will be Edmunds’ number one cross-shopping vehicle upon launch.”
Damon Bell, senior research editor at Cars.com, agrees with Drury: “There may be more overlap than RJ Scaringe suggests,” Forbes quotes him as saying. “Both vehicles are perceived as innovative in a way that trucks from established competitors are not.”
Cybertruck is significantly cheaper than Rivian’s vehicles
Prices are also likely to play a decisive role. While an R1T pickup costs between $73,000 and well over $90,000, Rivian customers pay a few thousand dollars more for an R1S SUV. The Tesla Cybertruck should be available for significantly less money. As the Musk Group announced in 2019, the cheapest model will start at $39,900 and the most expensive will be available from $69,900. Even if the prices have been increased in the meantime, the Cybertruck should still be noticeably cheaper than a Rivian vehicle.
When it comes to pricing, Drury also noted to Forbes that the market has changed. “Staying at the upper limit of what most consumers can pay limits the potential to put these units on the road in large numbers.”
It remains to be seen who will ultimately prevail. However, one thing is clear: Tesla is still very popular and has a loyal following. But the Rivian vehicles have also been clearly convincing so far.
Editorial team finanzen.net
Selected leverage products on Rivian Automotive
With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the lever you want and we will show you suitable open-end products on Rivian Automotive
The leverage must be between 2 and 20
Advertising