February 13, 2019 from Steve Hanley
Yesterday we reported on a possible partnership between Tesla and General Motors for a fully electric pickup truck. Hours later a new report appeared Reuters this puts a cube on that rumor and suggests that GM and Amazon are ready to make a big investment in Rivián. What can we get from this whirlwind of rumors? Only that – someone from GM has awakened from a long winter nap to find that the revolution of electric vehicles is real and the general is better to start taking things seriously if he intends to stay in the business for a long time.
Reuters According to him, the deal will give the two companies a minority stake in the company in Plymouth, Michigan, according to a person familiar with the talks. The deal would measure Rivian between 1 and 2 billion dollars. Mostly, Reuters source said the deal could be announced this month, but warns that nothing is final. Like my old Irish grandmother liked to say, "There is a lot of sliding on the cup and lip."
Reuters GM asked to comment on the story and received this short email in response. "We admire Rivian's contribution to the future of zero emissions and the all-electric future." Amazon and Rivian did not respond immediately to requests for comment from Reuters. In previous remarks, GM's chief executive, Maria Bara, said her company had only "little thought" about developing electric pickups. Hmmm …
At the Los Angeles Motor Show in December, Rivian announced its intention to start production in the fourth quarter of 2020. Expected prices for its electric pickup and SUV are $ 75,000 and up. Both are crowded vehicles that can appeal to wealthy customers. Tesla and Workhorse also intend to launch electric pickups – although Elon Musk has pointed out that there are several things in his list of "to do" that have priority, such as the Model Y crossover.
It seems Workhorse is closest to an electric truck ready for a market. It is expected to begin production of its W-15 electric pickup truck for commercial customers in the second half of this year and for private customers in early 2020. The first on the market can give Workhorse a significant competitive advantage.
Rivian was founded in 2009 by R.J. Scaringe and attracted $ 500 million Investments from Saudi auto distributor Abdul Latif Jameel Co. Sumitomo has also invested an undisclosed amount and Standard Chartered has secured $ 200 million in debt financing.
Since the entire report is based on information about an unnamed individual, it should be taken with a large pinch of salt. What seems undoubtedly is that the big corporations who played for "no one wants to buy an electric vehicle," slowly, slowly begin to change their melody. This in itself is sufficient to optimize the inevitability of the electric transport revolution.