Rivian CEO RJ Scaringe Interview: Hidden R1 bidirectional charging, R2 NACS, ‘mind-bending’ R3 build timeline, more
Rivian gave us a quick 15 minutes with CEO RJ Scaringe to talk about the R2 and R3. Believe me, we took full advantage of that time to ask the pressing questions you told us you had in our watch party and many others. Some of his answers are the first we’ve heard on the matter.
Rivian R3/X !!!
It is hard to believe that this secret was kept so well. It is the sign of a company that has its act together and loyal employees.
On Rivian R3 vs. R2, there is a contingent within the company that wants to bring out the R3 first. At this moment, the R2 is slated to come out first. At this moment, there is a “stagger” between R2 which will be launched out of Normal in 2026 H1. It sounds like it is uncertain if the R3/X will be launched out of Normal or Georgia. Also it is uncertain what this stagger will be but a year would put R3/X at H1 2027, which is a long way off.
On the R3, RJ called out its “incredible, mind-bending” capability and speed. Put in context, the tri-motor R2 will do 0-60 in ‘well under’ 3 seconds and with the same drivetrain, the smaller, lighter R3X should be significantly faster than that. All of that will still include the ability to go off road. In a hatchback (!!) form factor.
Rivian R2 Pack size
RJ didn’t go into specifics on the kWh capacity of the packs but there will be at least 2 pack sizes. The $45K version with RWD will go under 300 miles or about 270 miles. It is uncertain what the actual EPA will be. The larger pack will be over 300 miles even with the Trimotor under 3 seconds 0-60 version, which is an impressive efficiency for a rocket SUV.
If I had to guess, I would say the larger pack will be around 100kWh and the smaller pack around 80kWh.
R2 NACS port
I think our Jamie Dow was the first to lift the cover off the R2 NACS charge port, but it was hidden a little low on the rear passenger side, which makes it a bit of a hassle for Superchargers. RJ went into some details on the thinking here, including that it will be convenient for current Rivian owners. I do wonder if this will present problems for Tesla Superchargers especially while towing.
Camp Compact Kitchen
Our accessories announcement post assumed that these products would be released in time for the R2. However, RJ said that these new products would be available for R1S/T owners as well and would be released much sooner. This means that the Camp/compact kitchen, complete with an induction oven, will be available soon for R1S and R1T owners. I valiantly offered to review this early, which I know you all would appreciate. Strangely, I’m also interested in the bike rack, tent, and particularly that removable hauler attachment, which can’t come soon enough.
R2 and R1 Bidirectional Charging
This was the first time I’ve heard anyone at Rivian acknowledge on the record that the R1S and R1T had bidirectional charging capability inside, waiting to be unlocked via a software update. That means a 240V inverter could be hung off of it like Ford’s Pro Power and Tesla’s CyberTruck to power a house in case of an outage. This is something that Rivian could “productize” almost immediately and get a good return on minimal investment.
The better news is that R2 will have an integrated 240V AC output option, though only 120V was shown at the event. RJ also said that the 240V AC output would be an upcoming R1S/T option, but it doesn’t sound like it can be retrofitted.
We’re going to keep working to find details here because I know a lot of you (and me) are chomping at the bit for this.
400V or 800V system?
RJ didn’t say on screen which system the battery would be but remarks off the call make me think that this will be a 400V system because of the cost savings aspect. The thinking is that bigger and more powerful vehicles would be better suited to 800V technologies, so perhaps the higher-performance R1/2/3 vehicles in the future will make more sense.
It also means that Rivian vehicles won’t have insanely fast charging compared to Cybertruck, Silverado/Hummer trucks or even Porsche/Hyundai cars but Rivian has been pushing the 400V charging speeds as fast as anyone.
Perhaps what I’ve heard most about Rivian’s presentation today, besides how much everyone wants the R3 and how remarkable it was kept a secret, was that it was refreshing to listen to a down-to-earth, earnest leader.
I’m under no illusion that there is an army of PR folks behind the camera in the interview making sure he reveals as few interesting pieces of news as possible, and you can tell RJ is PR-trained to a fault.
But it is really refreshing that little things like starting the event on time so as not to waste other people’s time, and you can tell this has actually been practiced and reduced to be succinct. Plus, talking to someone in a leadership role who not only knows their product inside and out but also doesn’t make me cringe feels great.
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Robinhood stock hit an all-time high Friday as the financial services platform continued to rip higher this year, along with bitcoin and other crypto stocks.
Robinhood, up more than 160% in 2025, hit an intraday high above $101 before pulling back and closing slightly lower.
The reversal came after a Bloomberg report that JPMorgan plans to start charging fintechs for access to customer bank data, a move that could raise costs across the industry.
For fintech firms that rely on thin margins to offer free or low-cost services to customers, even slight disruptions to their cost structure can have major ripple effects. PayPal and Affirm both ended the day nearly 6% lower following the report.
Despite its stellar year, the online broker is facing several headwinds, with a regulatory probe in Florida, pushback over new staking fees and growing friction with one of the world’s most high-profile artificial intelligence companies.
Florida Attorney General James Uthmeier opened a formal investigation into Robinhood Crypto on Thursday, alleging the platform misled users by claiming to offer the lowest-cost crypto trading.
“Robinhood has long claimed to be the best bargain, but we believe those representations were deceptive,” Uthmeier said in a statement.
The probe centers on Robinhood’s use of payment for order flow — a common practice where market makers pay to execute trades — which the AG said can result in worse pricing for customers.
Robinhood Crypto General Counsel Lucas Moskowitz told CNBC its disclosures are “best-in-class” and that it delivers the lowest average cost.
“We disclose pricing information to customers during the lifecycle of a trade that clearly outlines the spread or the fees associated with the transaction, and the revenue Robinhood receives,” added Moskowitz.
Robinhood is also facing opposition to a new 25% cut of staking rewards for U.S. users, set to begin October 1. In Europe, the platform will take a smaller 15% cut.
Staking allows crypto holders to earn yield by locking up their tokens to help secure blockchain networks like ethereum, but platforms often take a percentage of those rewards as commission.
Robinhood’s 25% cut puts it in line with Coinbase, which charges between 25.25% and 35% depending on the token. The cut is notably higher than Gemini’s flat 15% fee.
It marks a shift for the company, which had previously steered clear of staking amid regulatory uncertainty.
Under President Joe Biden‘s administration, the Securities and Exchange Commission cracked down on U.S. platforms offering staking services, arguing they constituted unregistered securities.
With President Donald Trump in the White House, the agency has reversed course on several crypto enforcement actions, dropping cases against major players like Coinbase and Binance and signaling a more permissive stance.
Even as enforcement actions ease, Robinhood is under fresh scrutiny for its tokenized stock push, which is a growing part of its international strategy.
The company now offers blockchain-based assets in Europe that give users synthetic exposure to private firms like OpenAI and SpaceX through special purpose vehicles, or SPVs.
An SPV is a separate entity that acquires shares in a company. Users then buy tokens of the SPV and don’t have shareholder privileges or voting rights directly in the company.
OpenAI has publicly objected, warning the tokens do not represent real equity and were issued without its approval. In an interview with CNBC International, CEO Vlad Tenev acknowledged the tokens aren’t technically equity shares, but said that misses the broader point.
“What’s important is that retail customers have an opportunity to get exposure to this asset,” he said, pointing to the disruptive nature of AI and the historically limited access to pre-IPO companies.
“It is true that these are not technically equity,” Tenev added, noting that institutional investors often gain similar exposure through structured financial instruments.
The Bank of Lithuania — Robinhood’s lead regulator in the EU — told CNBC on Monday that it is “awaiting clarifications” following OpenAI’s statement.
“Only after receiving and evaluating this information will we be able to assess the legality and compliance of these specific instruments,” a spokesperson said, adding that information for investors must be “clear, fair, and non-misleading.”
Tenev responded that Robinhood is “happy to continue to answer questions from our regulators,” and said the company built its tokenized stock program to withstand scrutiny.
“Since this is a new thing, regulators are going to want to look at it,” he said. “And we expect to be scrutinized as a large, innovative player in this space.”
SEC Chair Paul Atkins recently called the model “an innovation” on CNBC’s Squawk Box, offering some validation as Robinhood leans further into its synthetic equity strategy — even as legal clarity remains in flux across jurisdictions.
Despite the regulatory noise, many investors remain focused on Robinhood’s upside, and particularly the political tailwinds.
The company is positioning itself as a key beneficiary of Trump’s newly signed megabill, which includes $1,000 government-seeded investment accounts for newborns. Robinhood said it’s already prototyping an app for the ‘Trump Accounts‘ initiative.
WATCH: Watch CNBC’s full interview with Robinhood CEO Vlad Tenev
Korean auto giants Hyundai and Kia think lower-priced EVs will help minimize the blow from the new US auto tariffs. Hyundai is set to unveil a new entry-level electric car soon, which will be sold alongside the Kia EV2. Will it be the IONIQ 2?
Hyundai and Kia shift to lower-priced EVs
Hyundai and Kia already offer some of the most affordable and efficient electric vehicles on the market, with models like the IONIQ 5 and EV6.
In Europe, Korea, Japan, and other overseas markets, Hyundai sells the Inster EV (sold as the Casper Electric in Korea), an electric city car. The Inster EV starts at about $27,000 (€23,900), but Hyundai will soon offer another lower-priced EV, similar to the upcoming Kia EV2.
The Inster EV is seeing strong initial demand in Europe and Japan. According to a local report (via Newsis), demand for the Casper Electric is so high that buyers are waiting over a year for delivery.
Hyundai is doubling down with plans to introduce an even more affordable EV, rumored to be the IONIQ 2. Xavier Martinet, CEO of Hyundai Motor Europe, said during a recent interview that “The new electric vehicle will be unveiled in the next few months.”
The new EV is expected to be a compact SUV, which will likely resemble the upcoming Kia EV2. Kia will launch the EV2 in Europe and other global regions in 2026.
Hyundai is keeping most details under wraps, but the expected IONIQ 2 is likely to sit below the Kona Electric as a smaller city EV.
More affordable electric cars are on the way
Although nothing is confirmed, it’s expected to be priced at around €30,000 ($35,000), or slightly less than the Kia EV3.
The Kia EV3 starts at €35,990 in Europe and £33,005 in the UK, or about $42,000. Through the first half of the year, Kia’s compact electric SUV is the UK’s most popular EV.
Like the Hyundai IONIQ models and Kia’s other electric vehicles, the EV3 is based on the E-GMP platform. It’s available with two battery packs: 58.3 kWh or 81.48 kWh, providing a WLTP range of up to 430 km (270 miles) and 599 km (375 miles), respectively.
Hyundai is expected to reveal the new EV at the IAA Mobility show in Munich in September. Meanwhile, Kia is working on a smaller electric car to sit below the EV2 that could start at under €25,000 ($30,000).
According to the report, Hyundai and Kia are doubling down on lower-priced EVs to balance potential losses from the new US auto tariffs.
Despite opening its new EV manufacturing plant in Georgia to boost local production, Hyundai is still expected to expand sales in other regions. An industry insider explained, “Considering the risk of US tariffs, Hyundai’s move to target the European market with small electric vehicles is a natural strategy.”
Although Hyundai is expanding in other markets, it remains a leading EV brand in the US. The IONIQ 5 remains a top-selling EV with over 19,000 units sold through June.
After delivering the first IONIQ 9 models in May, Hyundai reported that over 1,000 models had been sold through the end of June, its three-row electric SUV.
While the $7,500 EV tax credit is still here, Hyundai is offering generous savings with leases for the 2025 IONIQ 5 starting as low as $179 per month. The three-row IONIQ 9 starts at just $419 per month. And Hyundai is even throwing in a free ChargePoint Home Flex Level 2 charger if you buy or lease either model.
Unfortunately, we likely won’t see the entry-level EV2 or IONIQ 2 in the US. However, Kia is set to launch its first electric sedan, the EV4, in early 2026.
Ready to take advantage of the savings while they are still here? You can use our links below to find deals on Hyundai and Kia EV models in your area.
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As EVBox shuts down its Everon business across Europe and North America, EV charging provider Blink Charging is stepping up to offer support to customers caught in the transition.
EVBox’s software arm Everon recently announced it’s winding down operations alongside EVBox’s AC charger business. That’s left a lot of charging station hosts and drivers wondering what comes next. Now, EVBox Everon is pointing its customers toward Blink as a recommended alternative.
Blink says it’s ready to help, whether that means keeping existing chargers up and running or replacing aging gear with new Blink chargers.
“EVBox has played a significant role in the growth of EV charging infrastructure across the UK and Mainland Europe, and we recognize the trust hosts have placed in its solutions,” said Alex Calnan, Blink Charging’s managing director of Europe. “With the recent announcement of Everon’s withdrawal from the EV charging market, it’s natural to have questions about what this means for operations. At Blink, we want to assure Everon customers that we are here to help them navigate this transition.”
Blink says it’s able to offer advice, replacements, and ongoing network management to make the changeover as smooth as possible.
Everon users who switch to Blink will get access to the Blink Network portal via the Blink Charging app. That opens up real-time insight into charger usage and lets hosts set pricing, manage users, and download performance reports.
“At Blink, our charging technology is future-ready,” added Calnan. “With advancements like vehicle-to-grid technology on the horizon, our chargers are built to support the future of electric vehicles and charging habits.”
The company says its chargers are in stock and ready to ship now for any Everon customers looking to make the jump.
In October 2024, France’s Engie announced it would liquidate the entire EVBox group, which it said posted total losses of €800 million since Engie took over in 2017. EVBox is closing its operations in the Netherlands, Germany, and the US.
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