"The project turned out to be a $4,500 e-bike. The platform has little to do with Rivian's cars, but it stays close to the heart of CEO RJ Scaringe, whose kids attended the event to help celebrate the unveiling. If there was any indication that the CEO was mentally prepping to lay off several hundred employees at his automotive company on Thursday, he didn't reveal it when he spoke to me."
"whose kids attended the event to help celebrate the unveiling. If there was any indication that the CEO was mentally prepping to lay off several hundred employees at his automotive company on Thursday, he didn't reveal it when he spoke to me. "I'm super excited," Scaringe said after I asked about the atmosphere inside Rivian as they prepare for the launch of a new model. "For us, it's the most important point of the company - in the history of the company.""
"Rivian is gearing up for the production of R2, which will be the company's most affordable model to date. If price is the barrier to entry for drivers considering EVs, then the R2 - a $45,000 SUV - is Rivian's answer. While the R1 is a flagship product that sets the tone for the company's premium, adventure-focused brand, the R2 will be what takes Rivian to wider audiences."
Rivian laid off more than 600 employees on Thursday afternoon. A day earlier, RJ Scaringe attended an Oakland event where Rivian's spinoff ALSO unveiled a $4,500 e-bike. The e-bike platform differs from Rivian's vehicles but reflects Scaringe's personal interest and involvement. Scaringe described the moment as the most important in the company's history and expressed excitement about upcoming product launches. Rivian is preparing to produce the R2, a $45,000 SUV positioned as the company's most affordable model to broaden its customer base. The R1 remains the premium, adventure-focused flagship. Leadership characterized the company as approaching a critical point.
Read at Business Insider
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