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Rivian, the name of the electric vehicle startup backed by Amazon.com Inc. and Ford Motor Co., is finally able to start making deliveries of the Launch Edition RT1 electric pickup truck. We got an early sneak peak at the Rivian RT1 specs recently, with updates to the available powertrains, available tech, and more. Now, Rivian Automotive Inc. has received full regulatory certifications from multiple institutions, making it a real retail automobile now available in the auto market. It’s exciting when a new automaker pops up, and Rivian is definitely determined to not fly under the radar, especially this holiday season.
Rivian vehicles were fully certified by the National Highway Traffic Safety Administration (NHTSA), United States Environmental Protection Agency (EPA), and the California Air Resources Board (CARB). The company is based in Irvine, California, after all, and many are feverishly watching it catch up with Tesla in the all-electric market with much anticipation. Having raised more than $10 billion from investors including Amazon, Ford, T Rowe Price, Fidelity, and D1 Capital Partners, Rivian has racked up enough funds to put production into full throttle.
There have been some ups and downs with models being delayed multiple times due to the global coronavirus pandemic and disruptions within associated supply chains caused a shortage of resources for a hot minute. Now, with the certification of the RT1 Launch Edition, the company has stated that at least 100 units will be delivered by the end of the month. The initial delivery window for all Launch Editions ordered was and still is September 22 and December 21, 2021. For consumers who order a unit now, deliveries will begin in January 2022.
Not only is the RT1 going public, but the company itself recently filed confidentially for an initial public offering. That means offering stock, first and foremost to its investors before the general public. In total, the shares will have a collective value of around $80 billion! Rivian is definitely growing and is looking to expand, with locations in Europe being scouted, and talks with the city of Fort Worth, Texas, about investing at least $5 billion into constructing or transforming an unused factory into a second U.S. assembly plant to meet the increasing demands for production once all orders for the Launch Edition are filled – the first unit rolled off the assembly line just a few days ago (Sept 14, 2021).
The RT1 electric pickup truck isn’t the only new all-electric vehicle coming from Rivian. Following the RT1 is the R1S, an electric SUV with a currently unspecified debut date set for the autumn months. In addition, Amazon has already ordered 100,000 electric delivery vans from Rivian as a part of its investment. Perhaps Amazon will even eventually go autonomous and have self-driving electric delivery vans. Hey, if Domino’s can have Robotic Pizza Delivery, surely a giant like Amazon can do it.
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