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11/30 Update - Cybertruck Delivery Event (Link)

This is now an electric truck/SUV thread.
Do you think the R2 will come out in 2026 for $45k?


If the last few years have taught us anything about electric vehicles, it's that they're easy to design but hard to manufacture at scale — and even harder to do so profitably.
Why it matters: Rivian revealed three additional new vehicles on Thursday, but like many other EV makers before it, the company is still burning cash at a breathtaking pace.


  • The R2, a midsize SUV, would be the automaker's most affordable vehicle yet at around $45,000.
  • The surprise unveiling of two additional and even more affordable models to come later — the R3 and R3X crossovers — was reminiscent of a Steve Jobs "one more thing" product introduction at Apple, Axios' Joann Muller reports.
Reality check: The automaker — which currently sells the premium R1T pickup and R1S SUV — lost about $43,000 per vehicle in its most recent period, Reuters reported.

  • "We think there's a real risk that the R2 may never see the light of day," CFRA analyst Garrett Nelson wrote in a research note, adding that "we see [Rivian's] cash burn accelerating in the coming quarters."
Between the lines: Shortly after the glitzy event Thursday arranged to draw attention to its new, more affordable EVs, Rivian dropped an SEC filing saying that it was suspending plans for a $5 billion factory in Georgia.

  • The company said it will instead make the R2 initially more affordably at its current facility in Illinois.
"What we've always said is it's really important for us to make sure we have a strong balance sheet and to make sure that we're not in a position where we're putting the business at risk," Rivian CEO RJ Scaringe told Muller.

  • "We're tracking towards and focused on both rapidly achieving a scale that ... we're accomplishing, but also doing it in a way that gets us to profitability as fast as possible."
The big picture: Rivian's growing pains are reflective of a broader problem for EV companies — that designing and engineering EVs is a lot easier than making them at a profit.

  • At this point, only Tesla can plausibly claim that it's figured out a formula for making EVs profitably — and only after a brutal stretch of red ink that nearly tanked the company.
  • Others — including established automakers like GM and Ford and startup companies like Fisker and Lordstown — have not yet found a path into the black.
I’d be surprised if it did, but maybe their definition of “around” is different than mine. 😉
 




“I’ve never owned a Tesla simply because I’ve never needed one which meant I really didn’t know that much about the company so what I really loved about this project was discovering how insanely passionate Tesla employees and fans are about technology and innovation, like these people genuinely love what they do.

So even if you’re not a fan of electric vehicles or some of Tesla‘s designs, we should all be cheering for this aggressive, innovative, and passionate American company which employees a lot of American people because at the end of the day differences aside, we are all on the same team 🤝 (except for government mandated EV ownership, that is not on our team)”
 
Don Lemon demanded the sun, the moon and the stars from the SpaceX boss – before being unceremoniously dumped this week, The Post has learned.

The ex-CNN anchor sent over an astronomical wish list to Elon Musk during contract talks to host a show on the billionaire’s social media platform X – including a free Tesla Cybertruck, a $5 million upfront payment on top of an $8 million salary, an equity stake in the multibillion-dollar company, and the right to approve any changes in X policy as it relates to news content, according to a document reviewed by The Post.
 
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Saw first Cybertruck in the wild today. Noticed the headlights and looked to the oncoming lanes late to see it well, but I think it was in a gloss black wrap.

Anyway, prices cuts coming to Ford Lightnings:

Shares of Rivian Automotive, Lucid Group, and Tesla Motors moved lower during the cash session in the US after Ford Motor announced price cuts for its electric F-150 Lightning pickup truck amid concerns about sliding demand across the EV industry. Meanwhile, an EV price war between the automakers rages on as unprofitable EV startups struggle to survive.

Let's begin with a Bloomberg report that says Ford is reducing the price of its Lightning pickup truck by up to 7.5%. Earlier this year, the company paused production of the truck and is set to resume production later in the month

The largest price cut is on the Flash extended-range model, where customers could expect to save $5,500. The model now starts at around $67,995. Ford told Bloomberg that price cuts will help it "adapt to the market to achieve the optimal mix of sales growth and customer value."

The downshift in EV demand has led Chief Executive Officer Jim Farley to reevaluate Ford's EV strategy by reducing spending on battery-powered vehicles by $12 billion, delaying the launch of various models, and beginning to offer an expanded lineup on gas-electric hybrid propulsion vehicles across North America.

Thousands of auto dealers nationwide recently warned the 'climate change warriors' in the White House: the 2030 EV push is backfiring.

"Currently, there are many excellent battery electric vehicles available for consumers to purchase. These vehicles are ideal for many people, and we believe their appeal will grow over time. The reality, however, is that electric vehicle demand today is not keeping up with the large influx of BEVs arriving at our dealerships prompted by the current regulations. BEVs are stacking up on our lots," the dealers said.


They warned: "Already, electric vehicles are stacking up on our lots which is our best indicator of customer demand in the marketplace."

Many consumers do not embrace the government's and corporate America's forced EV adoption schemes. This is now entirely backfiring, as even Tesla's first-quarter deliveries lagged behind expectations, which may indicate more price cuts are coming.



"Reports of Ford reducing prices for the F-150 Lightning EV are sending shockwaves through the EV market, particularly affecting Rivian and Lucid," Bloomberg Intelligence analyst Steve Man said.

Man said, "Both startups are facing challenges that could be exacerbated by another round of EV price cuts, potentially eroding their profit margins and cash reserves at a time when they need to conserve cash."

Shares of Rivian dropped the most, down 6.5% in early afternoon trade. Shares of Lucid were down around 2.5%, and Tesla was flat on the session.



Recall analyst Adam Jonas at Morgan Stanley recently suggested consolidation is coming to the industry:


 
First cybertruck spotted on 4/11? Must live around poors. Have seen at least one every single day for 10 days now (not counting the two I see almost everyday at school drop off). Best was seeing a 65+ year young grandmother get out of one.

Can get a good deal on a model y right now with the price cut. Attempting to move more units to get closer to projections, and/or attempting to get rid of stock before spy shots of the model y refresh hit.

Would think the not-so-secret Model 3 plaid will be made available soon. Already having some issues with current/newish model 3 production, so interested to see how new sku factors in.
 
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