In the San Francisco Chronicle, Guidehouse Insights discusses Rivian's goal of reaching a new segment of the American auto market
Rivian is an electric car company that plans to produce premium, long-range electric vehicles (EV) by 2020. Rivian’s CEO is attempting to change the perception of electric pickup trucks, showing that electric vehicles have the power and ability to go off-road, tow, and do other things that people value in a traditional gas-powered pickup truck.
“Targeting the premium pickup and SUV market in the U.S. was smart,” said Abuelsamid. “Those are the kind of vehicles Americans want to buy, as opposed to a compact car or midsize sedan.” Profit margins are higher too, especially for luxury models.
Rivian has already received significant investments from big names like Ford and Amazon, but they are expected to need a lot more to compete with other big name companies in the EV industry.