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3 years ago

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Rivian-Scaringe

RJ Scaringe, CEO of Rivian (RIVN), sat down with Charlie Coldicott, head of global automotive research at Redburn, to discuss demand, supply chain constraints, the R2 platform, profitability, and more.

Rivian exploded on the scene as one of the most intriguing electric vehicle (EV) makers after going public on the NASDAQ exchange a little over a year ago (November 9, 2021).

Investors rushed in to get their share of the future of the auto industry, pushing Rivian’s market cap well over $100 billion, surpassing both Ford (F) and General Motors (GM). Since then, Rivian has fallen back to reality (as with most unprofitable, growth companies) with a current market cap of around $26 billion.

To make matters worse, RIVN stock is down 72% this year. How has Rivian lost almost a fourth of its value?

To be fair, it’s not all Rivian’s fault. Some of it has to do with events outside the company’s control. Rising interest rates, geopolitical tension, and supply chain bottlenecks have slowed Rivian’s momentum while presenting hurdles for the company’s future.

In spite of this, Rivian is plowing ahead, confident it has what it takes to not only succeed but thrive in the evolving auto industry. In the third quarter, Rivian said it has produced over 15,000 EVs since the start of production while reaffirming its 25,000 goal for 2022.

Although the company is confident, investors are more hesitant, wondering if and when Rivian will turn a profit.

Rivian’s CEO RJ Scaringe sat down at the company’s Redburn’s CEO Conference to discuss the road to profitability, overcoming supply chain hurdles, the upcoming R2 platform, and more.

Demand for Rivian vehicles

Despite concerns over a slowing auto industry, Scaringe says he is confident the company can sell everything it makes with a strong order backlog that stretches into 2024.

Even recently, Scaringe notes, the company is seeing a strong order intake for Rivian vehicles. The company is trying to manage its backlog because too much can deter new buyers. One way of influencing orders is with price changes, which the company did in March.

Scaringe says there’s still room to stretch prices with different options, such as dual or quad motors. He adds Rivian’s unique capabilities continue driving demand.

Rivian-Scaringe
Rivian R1T electric trucks (Source: Rivian)

Establishing its supply chain for the future

As the US and world venture toward 100% EV adoption, Scaringe says the least talked about hurdle is battery materials.

With nearly every automaker transitioning to an all-electric portfolio, demand for critical battery materials is skyrocketing, pushing prices higher. For example, lithium and nickel, two essential minerals for electric vehicles, are up significantly this year.

Establishing a consistent supply, Scaringe says, can take time with multiyear projects that need to come online. For this reason, it’s crucial to lock in capacity now for future production.

To that end, Scaringe says Rivian is building a “portfolio of relationships” for different setups. He adds that the recently passed Inflation Reduction Act supports domestic investments, which will help drive EV growth and ease the transition.

Rivian Profitability

In the most recent quarter, Rivian’s losses widened to $1.7 billion as the EV maker scales production. The company noted in its Q3 shareholder letter:

As we produce vehicles at low volumes on production lines designed for higher volumes, we have and will continue to experience negative gross profit related to labor, depreciation, and overhead costs.

Scaringe says it has been a “challenging year” with Rivian launching four products (two versions of the EV van, the R1T, and the R1S). Launching one vehicle is tough, but launching four is complex.

The company has experienced “unforeseen challenges” as a result, setting production back. To overcome this, Rivian’s CEO says it has first worked to establish the supply chains necessary. And now, it’s focusing on ramping production consistently.

As Rivian mentioned above, it has identified a few of these challenges (capital efficiency) and is now working to address them. For example, the company has added a second production shift to accelerate production.

Although the company is working hard to address these factors, Rivian is not out of the woods yet. The challenges are “well understood,” as Scaringe puts it, but they will still face hurdles while scaling.

Rivian has noted it has sufficient capital until at least 2025. This year, the EV start-up has focused primarily on scaling production. In 2023, Scaringe says, Rivian will work to reduce costs and drive volume, which will steer them toward positive gross margins.

The company is looking at all ways to maximize efficiency and cut costs wherever needed. For example, Rivian reduced its head count earlier this year and has streamlined many processes for its R1 models.

R2 Platform

Rivian plans to launch its next-generation EV architecture, the R2 platform, in 2026. But the company is already getting excited about the opportunity it will bring Rivian and EV buyers.

Scaringe says the R2 platform showcases the best of Rivian’s qualities, such as:

  • Capability
  • Aerodynamics
  • Refinements
  • Functionality

Although Rivian is targeting a lower price point, it will “still be very much a Rivian” as the company plans for significant demand. The company plans to implement the same “simplicity” it has learned to use with the R1 series.

The R2 platform is designed to be a much higher volume architecture and will launch in multiple global markets, according to Scaringe.

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Elon Musk claims Tesla delivered its first car fully autonomously from factory to customer

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10 hours ago

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June 27, 2025

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Elon Musk claims Tesla delivered its first car fully autonomously from factory to customer

Tesla Self-driving Fremont factory

Elon Musk claims Tesla has delivered its first car fully autonomously from the factory to a customer’s home “across town.”

If true, I’d argue that this is actually a bigger deal than its “Robotaxi” with supervisors, but there are still questions about the value of such a system.

The Tesla CEO announced on X:

The first fully autonomous delivery of a Tesla Model Y from factory to a customer home across town, including highways, was just completed a day ahead of schedule!!

Musk has been known to stretch the meaning of the words “fully autonomous” over the years, but he did give a few more details:

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There were no people in the car at all and no remote operators in control at any point. FULLY autonomous! To the best of our knowledge, this is the first fully autonomous drive with no people in the car or remotely operating the car on a public highway.

This would be somewhat of an improvement from its recently launched Robotaxi service, which involves a Tesla employee in the passenger seat at all times, ready to hit a kill switch.

However, Musk’s last comment is not valid. Several companies have tested fully autonomous driving with no one in the driver’s seat or in the car, and Waymo has even started offering rides to paying passengers on freeways.

Highway driving is part of Waymo’s operations in Phoenix, San Francisco, and Los Angeles, although it is currently only available to employees through Waymo’s internal app in the latter two markets.

Musk says that a video of the milestone is coming soon.

The milestone comes after Tesla has been moving its vehicles autonomously from the end of the line to its delivery lots at factories in the US for the last few months.

Electrek’s Take

With in-car supervisors at all times and numerous issues arising in just the first few days of operations, Tesla’s Robotaxi launch fell short of expectations. For anyone who had previously experienced Tesla’s Supervised Full Self-Driving or a more comprehensive product like Waymo, it didn’t feel special.

An autonomous drive with no one in the car, including highway driving from the factory to a customer’s home, can be more impressive, albeit with some potential caveats.

“No people in the car at all and no remote operators in control at any point.” In some sense, Tesla’s FSD and Robotaxi programs would be able to do that too, it’s just that Tesla is not confident that they can do it reliably enough over long periods of time to remove the supervision.

Which raises the question: what’s different with this?

No one in the car, so Tesla doesn’t take the safety concerns as seriously? That would be weird, as the safety of people outside of the vehicle, aka other road users, also needs to be considered.

It’s possible that Tesla tested the particular route for this drive several times and then remotely, even potentially with a trailing car, as it was spotted several times in recent months, monitored it with someone ready to stop it at all times.

It wouldn’t be that far from what Tesla already operates, and not something scalable until we see data that shows Tesla can consistently do this safely over hundreds of thousands of miles.

Ultimately, that remains the main issue. Tesla is big on making videos and making showy statements when it comes to self-driving, but it has never released any relevant data. Ever. Let’s see it.

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The GMC Sierra EV pickup just got way more affordable

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11 hours ago

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June 27, 2025

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The GMC Sierra EV pickup just got way more affordable

GMC-Sierra-EV-affordable

The 2026 GMC Sierra EV is already over $27,500 cheaper than the outgoing model. With new deals dropping this month, the electric pickup is even more affordable.

The 2026 GMC Sierra gets more affordable and capable

After introducing the new Elevation and AT4 variants for the 2026 model year, GMC said the Sierra EV is now “right in the heart of the premium truck market.” It looks like GMC wasn’t just talking.

The 2026 GMC Sierra EV Elevation starts at $64,495. That’s $27,795 less than the 2025 Denali edition, which has a base price of $92,290 (which we had the opportunity to try out).

After launching new lease deals and other discounts this month, the 2026 GMC Sierra EV is surprisingly affordable. The base Sierra EV 4WD Elevation is listed for lease at just $559 per month. In comparison, monthly leases for the 2025 model year start at $949.

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The offer is for a 36-month lease with $5,599 due at signing and based on an MSRP of $64,495. However, the deal is only good until June 30, 2025.

GMC-Sierra-EV-affordable
2026 GMC Sierra EV AT4 (left) and Elevation (right) trims (Source: GMC)

Since the Elevation and Denali trims start under the $80,000 threshold, they qualify for the $7,500 federal tax credit (as long as it’s still available).

GM is offering more ways to save on the 20,25 model year, including 2.9% APR for 72 months and a $3,000 Purchase Allowance.

2026-GMC-Sierra-EV affordable
2026 GMC Sierra EV AT4 (Source: GM)

The 2026 GMC Sierra EV is available with three battery pack options: Standard, Extended, and Max Range, boasting a range of up to 478 miles.

With an all-electric powertrain, the Sierra is more capable than ever. The base Elevation trim offers a best-in-class rating of up to 605 horsepower and can tow up to 12,300 lbs.

GMC-Sierra-EV-affordable
2026 GMC Sierra EV AT4 with MultiPro Tailgate (Source: GM)

It also comes with a few added perks, including GMC’s MultiPro Tailgate, a flexible tailgate system with six different configurations that make hauling even easier.

Inside, the electric pickup features a 16.8″ infotainment system with Google built-in. GM’s Super Cruise hands-free driver assistance system comes standard on AT4 and Denali trims.

2026-GMC-Sierra-EV-Elevation-interior
2026-GMC-Sierra-EV-AT4-interior

The new AT4 model features an added 2″ of ground clearance, a lifted coil suspension, perimeter grille illumination, and 35″ all-terrain tires. It also has an exclusive Terrain Mode, which maximizes torque, control, and more using GM’s new software.

2026 GMC Sierra EV trim Starting Price
(MSRP including $2,05 DFC)		 Max Driving Range
Elevation (Standard Range) $64,495 283 miles
Elevation (Extended Range) $72,695 410 miles
AT4 (Standard Range) $81,395 390 miles
AT4 (Extended Range) $91,695 478 miles
Denali (Standard Range) $71,795 283 miles
Denali (Extended Range) $79,995 410 miles
Denali (Max Range) $100,695 478 miles
2026 GMC Sierra EV prices, battery, and trim options (Source: GMC)

With DC fast charging speeds of up to 350 kW, the 2026 Sierra EV can gain about 100 miles of range in roughly 10 minutes.

After cutting lease prices last month, Chevy’s electric pickup, the Silverado EV, may also be worth considering right now.

Want to see what the electric pickup is all about? You can use our link to find 2025 and 2026 GMC Sierra EV models available at a dealer near you (trusted affiliate link).

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Navee’s new GT3 Pro smart regen e-scooter at $520 low, Ride1Up 4th of July Sale, Aiper smart pool monitor + robots, lawn care tools, more

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12 hours ago

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June 27, 2025

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Navee's new GT3 Pro smart regen e-scooter at 0 low, Ride1Up 4th of July Sale, Aiper smart pool monitor + robots, lawn care tools, more

We’re closing out this week’s Green Deals leading with a spotlight on Navee’s new GT3 Pro Electric Scooter that sports regenerative braking, Apple Find My, and more at its $520 low during the brand’s Independence Day Sale. Right behind it is Ride1Up’s 4th of July e-bike Sale with up to $500 discounts its lineup of e-bikes starting from $995. From there, we have Aiper’s HydroComm Solar-Charging Smart Pool Monitor in a blue colorway at $350, as well as several of the brand’s pool-cleaning robots. For our final tool deals of the week, we spotted Worx’s Nitro 40V 15-inch PowerShare Pro Cordless Driveshare String Trimmer bundle (two batteries and replacement head), which allows you to use alternate attachments from this brand or others, down at a $230 annual low. We also have Greenworks’ legacy 24V 22-inch Cordless Laser Cut Hedge Trimmer kit at its best price in years for $97. Plus, there’s all the rest of the hangover Green Deals in the links at the bottom of the page, like yesterday’s 4th of July Rad Power e-bike savings, the 48-hour EcoFlow flash sale on three units that will be ending tonight, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Hop on Navee’s new GT3 Pro electric scooter for up to 37 miles with regen braking, Apple Find My, more at $520 low

Looking back in on Navee’s Independence Day Sale that is running through July 7, we wanted to shine a spotlight on the new GT3 Pro Electric Scooter down at $519.99 shipped during this sale. While it launched back in March carrying a $1,099 MSRP, it’s more recently been seen at $650 when at full price outside of these sales, with the deal here beating out its Amazon pricing by $80. You’re looking at the best price we have tracked while the stock and savings last, with the 20% markdown providing $130 in savings. You can also bundle two GT3 Pro electric scooters for added savings at $974.99 shipped.

Navee’s new GT3 Pro Electric Scooter debuted alongside the brand’s new flagship ST3 Pro model, with much of the same performance, albeit without the new damping arm suspension system, but it does sport a front fork suspension paired with a rear cylinder suspension. This high-end commuter comes equipped with a 400W motor that can ramp itself as high as 1,000W to tackle steep inclines and provide faster acceleration up to its 19.9 MPH top speed, while the 477.4Wh battery gives you a max 37.3-mile travel range.

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The GT3 Pro electric scooter comes with an IPX5 water-resistant construction for when you may be caught mid-journey by sudden weather changes, and sports other features, including regenerative rear brakes alongside front drum brakes, 10-inch tubeless puncture-resistant tires, an auto-on headlight, a taillight with brake lighting, turn signal indicators on the ends of its handlebars, a foldable design, an integrated LED display, and more. It also brings some smart features to your experience, like the Apple Find My integrations, as well as other app-based smart controls.

Be sure to check out the full lineup of Navee’s Independence Day Sale, especially if you’re considering grabbing the flagship ST3 Pro Electric Scooter with Apple Find My, the new damping arm suspension – plus the increased 25 MPH speed and 46.6-mile range – all at its $760 low.

Ride1Up Roadster e-bike

Save up to $500 through 4th of July on a selection of Ride1Up e-bikes starting from $995

Ride1Up has launched its 4th of July Sale, which is offering similar savings that we’ve seen in recent sales, with up to $500 being taken off four e-bikes and their variants. Among the offers, you’ll find the lightweight and more urban-friendly Roadster v3 e-bike down at $1,395 shipped after being restocked, with it coming with either a 9-speed chain drive or a single-speed belt drive, and three options for frame sizing. It’s only down from a $1,495 full price, which we’ve seen throughout sales in 2025 so far, and sits as the best price we have tracked in the last year.

A considerably upgraded model from its predecessor, sporting more frame and drivetrain options, the Roadster V3 is a stealthy and minimalist ride that is easily managed within urban environments thanks to its 40-pound weight. It comes with a 500W angled-gear MIVICE hub motor for quieter performance, as well as a 320Wh battery, which pairs together to provide up to 40 miles of pedal-assisted travel (half that using the throttle), at top speeds of 25 MPH for the belt-drive setup or 28 MPH for the chain-drive.

Among the other features you’ll be getting, there’s the Intui-Drive torque sensor for ultra-responsive and smoothed out PAS support, 2-piston hydraulic brakes, a choice between Schwalbe G-One RS or Pirelli Cinturato gravel tires, fenders over each tire (depending on our tire choice), a water-resistant 36V 18A MIVICE controller, a two-tone 1.3-inch VeloFox tempered glass OLED display, and more.

Ride1Up’s full 4th of July e-bike deals:

  • Portola Folding e-bike: $995 (Reg. $1,095)
    • 20 MPH throttle, 28 MPH PAS for up to 40 miles
    • Upgrade to 13.4Ah battery for $100 more and 45-mile travels
  • Roadster V3 Lightweight Premium Belt-Drive e-bike: $1,395 (Reg. $1,495)
    • 25 MPH for up to 40 miles
  • Roadster V3 Lightweight Premium Chain-Drive e-bike: $1,395 (Reg. $1,495)
    • 28 MPH for up to 40 miles
  • Prodigy v2 Brose Mid-Drive 9-Speed e-bike: $2,095 (Reg. $2,495)
    • 28 MPH for up to 50 miles
  • Revv 1 Full Suspension Moped-Style e-bike: $2,395 (Reg. $2,595)
    • 20+ MPH for up to 60 miles
  • Revv 1 DRT Off-Road Moped-Style e-bike: $2,495 (Reg. $2,595)
    • 20+ MPH for up to 60 miles
  • Prodigy v2 Brose Mid-Drive Gates Belt CVT e-bike: $2,595 (Reg. $2,795)
    • 28 MPH for up to 50 miles
aiper hydrocomm smart pool monitor

Aiper’s solar-charging HydroComm smart pool monitor covers testing for pH, ORP, EC, TDS, and temp at $350

Coming through its official Amazon storefront, you can pick up Aiper’s latest HydroComm Smart Pool Monitor in its blue colorway at $349.99 shipped, after clipping the on-page $50 off coupon. This new device hit the market back in mid-April with a $500 price tag, which has recently been staying at $400 since the previous discount at the top of June. Today’s deal comes in as the second-lowest price we have tracked, giving you $50 off the going rate and landing it $50 above the launch discount from April. It’s also beating out Aiper’s direct website pricing by $20. Head below to learn about this device and check out the brand’s robot pool cleaners that are seeing discounts.

No need to deal with outdated testing kits after you’ve added Aiper’s HydroComm monitor to your pool, providing 5-in-1 testing support for pH, ORP, EC, TDS, and temperature levels. A standout feature is the built-in solar panel that gives it a continuous 24/7 runtime as long as it gets some sun during the days. And when the sun decides to hide amongst the clouds, rest easy knowing you can also recharge it via the DC input.

Aiper’s pool cleaning robot deals:

  • Scuba SE: $170 (Reg. $200) | $30 less at Aiper
    • for above-ground pools up to 860 square feet in size
    • floor cleaning
  • Seagull SE: $160 (Reg. $180) | matched at Aiper
    • for above-ground pools up to 850 square feet in size
    • floor cleaning
  • 2025 Surfer S2 Solar Pool Skimmer: $340 (Reg. $540) | matched at Aiper
    • built-in solar panel, remote manual steering, more
  • Scuba S1: $500 (Reg. $700)
    • for in-ground pools up to 1,600 square feet in size
    • floor/wall/water line cleaning
  • Seagull Pro: $530 (Reg. $600) | $30 less at Aiper
    • for in-ground pools up to 1,600 square feet in size
    • floor/wall/water line cleaning
  • And much more…
worx string trimmer

Worx’s attachment-capable 40V Nitro 15-inch PowerShare Pro cordless string trimmer bundle hits $230 annual low

Amazon is offering the best recent pricing on the Worx Nitro 40V 15-inch PowerShare Pro Cordless Driveshare String Trimmer with two 4.0Ah batteries, a dual-slot charger, and a replacement trimmer head for $229.99 shipped. Down from its $300 price we have been tracking most recently, this bundled package hasn’t been this low in well over a year, with it otherwise keeping at its full rate. Today’s deal brings a 23% markdown into the mix, cutting $70 off the going rate to land it at the best price we’ve tracked over the last 12 months and the second-lowest price overall – $10 above the low. If you already have plenty of 40V PowerShare batteries, you can get the trimmer and the replacement head at $199.99 shipped.

A more versatile model of string trimmers, this 40V Nitro model from Worx comes sporting the Driveshare functionality, with a split-shaft design that allows for the brand’s various attachments to be swapped out with the trimmer head – and it’s compatible with many other brand’s attachments to boot. The brushless motor can be dialed up or back with the variable speed control, which includes an Eco mode for optimal runtimes, while the 15-inch dual-exit head makes replacing broken lines all the faster and easier. Plus, there’s the lack of gas, fumes, pull strings, and noise over gas-guzzling counterparts.

If you wanted to pick this trimmer up alongside any of the brand’s various attachments, be sure to browse what Worx has to offer in its official Amazon storefront on the landing page here.

greenworks hedge trimmer

Keep hedges in tip-top shape with Greenworks’ legacy 24V 22-inch cordless laser cut trimmer kit at $97

Amazon is offering the best rate we’ve seen in years on the legacy Greenworks 24V 22-inch Cordless Laser Cut Hedge Trimmer for $97.49 shipped, with the price also matching directly from Greenworks’ website. While it carries a $150 MSRP from the brand, we’ve been seeing it keep down at $127 over at Amazon since mid-April, with today’s sudden discount taking it lower than we’ve seen it go in over a year. You’re looking at a 23% markdown that gives you $30 off Amazon’s going rate and $53 off the MSRP, landing it at the best price we’ve tracked in over 12 months.

You’ll reliably be able to upkeep your hedges and shrubbery through the seasons with this tried-and-true Greenworks 24V cordless hedge trimmer. It comes with a 4.0Ah battery that provides up to 60 minutes of continuous runtime off a single charge, with the battery even doubling as a 24,000mAh USB power bank when it’s not powering the tool. The dual-action, laser cut 22-inch steel blades allow for up to a 3/4-inch cutting capacity, while the ergonomic rotating handle provides more flexibility and comfort when hitting awkward angles and performing more complex shape-ups.

If you’re more interested in the brand’s commercial-grade lawn care solutions, we’ve spotted quite a few low prices on solid packages over the week:

Best Spring EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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