At its first Investor Day on Thursday, Rivian gave several insights into the EV maker’s future. CEO RJ Scaringe explained how Rivian’s software-defined EVs, built from the ground up, and other in-house tech are evolving for its next-gen vehicles.
Check out the latest from Rivian’s 2024 Investor Day below.
The next growth stage
Rivian held its first Investor Day on Thursday. In a Tesla-like presentation, Scaringe outlined Rivian’s roadmap to profitability.
A Rivian is not just any other vehicle. Rivian’s Adventure Vehicles were built from day one to improve over time. “On day 300, it’s a better vehicle,” Rivian’s CEO said during the event.
Perhaps, more importantly, Rivian is learning to build them at a “significantly” lower cost, passing the savings onto buyers.
After building an authentic luxury EV brand, Rivian is making its vehicles more accessible. Rivian shut down its Normal, IL plant in April to improve efficiency. Scaringe said the updates and supplier negotiations have resulted in “significant cost improvements.”
The company cut out 100 steps from its battery-making process, over 50 components from the body shop, and 500 parts from the design.
Production at Rivian’s Normal, IL plant (Source: Rivian)
Its focus on a scalable, flexible platform, built from the ground up, is paving the way for its future EVs.
Rivian outlines R2, future plans during 2024 Investor Day
Rivian introduced its smaller, cheaper R2 electric vehicle in March. Starting at $45,000, Rivian’s R2 is nearly half the cost of the R1S and R1T models.
After scoring over 68,000 reservations in less than 24 hours, Rivian’s R2 is expected to significantly expand its market.
Rivian R2 (Source: Rivian)
Rivian’s R1S is already one of the top-selling EVs. Through the first three months of 2024, Rivian’s R1S was the fourth top-selling EV in the US, behind only Tesla’s Model Y, Model 3, and Ford’s Mustang Mach-E.
According to Scaringe, it’s also the top-selling large vehicle in California, electric or gas. The tech and features driving demand will translate to a lower price point in the R2, R3, and beyond.
(Source: Rivian)
Rivian is consolidating ECUs, harness length, and electrical parts to cut costs. In addition to supplier negotiations and more efficient manufacturing, Rivian is confident R2 will help drive profits.
Rivian plans to begin R2 production in Normal in early 2026. Although initially Rivian planned to build R2 at its new GA plant, the move will help save $2.25 billion. More importantly, it will help get R2 to market earlier.
(Source: Rivian)
The new partnership with Volkswagen shows the flexibility of Rivian’s platform. Rivian’s head of software, Wassym Bensaid, said the platform can be scaled up or down for more variants.
Bensaid explained how Rivian is focused on getting its software and hardware into more EVs globally. With software at the heart, Rivian’s vehicles will continue improving over time.
(Source: Rivian)
Since launching, Rivian has rolled out more than 30 OTA updates, adding over 500 features. It continues to take feedback to add new features like Snow Mode and Launch Mode.
Rivian’s platform enables continuous improvement and can be used for new functions, like autonomy. Using AI and machine learning, the software constantly takes in information, analyzes it, and improves via OTA updates.
(Source: Rivian)
Scaringe explained how Rivian’s new Enduro and Ascend drive units, built in-house, are driving down costs while improving performance.
The new Ascend motor is paving the way for future improvements for the R2 and further generation vehicles.
(Source: Rivian)
Maximus, or “Enduro Gen 2,” the drive R2 and R3 drive units, is focused on cost savings with less labor and parts. The side-mounted inverter optimizes packaging.
Rivian has also significantly reduced the number of parts to support lower costs. For example, the R2 has 65% fewer parts than the R1S.
Despite its cheaper price point, the EV maker promises that R2 will still have the essence of a Rivian.
Check back for more updates from Rivian’s 2024 Investor Day.
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In a bold bid to combat the crippling air pollution crisis in its capital, Delhi, Indian lawmakers have begun high-level discussions about a plan to phase out gas and diesel combustion vehicles by 2035 – a move that could cause a seismic shift in the global EV space and provide a cleaner, greener future for India’s capital.
Long considered one of the world’s most polluted capital cities, Indian capital Delhi is taking drastic steps to cut back pollution with a gas and diesel engine ban coming soon – but they want results faster than that. As such, Delhi is starting with a city-wide ban on refueling vehicles more than 15 years old, and it went into effect earlier this week. (!)
“We are installing gadgets at petrol pumps which will identify vehicles older than 15 years, and no fuel will be provided to them,” said Delhi Environment Minister Manjinder Singh Sirsa … but they’re not stopping there. “Additionally, we will intensify scrutiny of heavy vehicles entering Delhi to ensure they meet prescribed environmental standards before being allowed entry.”
The Economic Times is reporting that discussions are underway to pass laws requiring that all future bus purchases will be required to be electric or “clean fuel” (read: CNG or hydrogen) by the end of this year, with a gas/diesel ban on “three-wheelers and light goods vehicles,” (commercial tuk-tuks and delivery mopeds) potentially coming 2026 to 2027 and a similar ban privately owned and operated cars and bikes coming “between 2030 and 2035.”
Electrek’s Take
Xpeng EV with Turing AI and Bulletproof battery; via XPeng.
Last week, Parker Hannifin launched what they’re calling the industry’s first certified Mobile Electrification Technology Center to train mobile equipment technicians make the transition from conventional diesel engines to modern electric motors.
The electrification of mobile equipment is opening new doors for construction and engineering companies working in indoor, environmentally sensitive, or noise-regulated urban environments – but it also poses a new set of challenges that, while they mirror some of the challenges internal combustion faced a century ago, aren’t yet fully solved. These go beyond just getting energy to the equipment assets’ batteries, and include the integration of hydraulic implements, electronic controls, and the myriad of upfit accessories that have been developed over the last five decades to operate on 12V power.
At the same time, manufacturers and dealers have to ensure the safety of their technicians, which includes providing comprehensive training on the intricacies of high-voltage electric vehicle repair and maintenance – and that’s where Parker’s new mobile equipment training program comes in, helping to accelerate the shift to EVs.
“We are excited to partner with these outstanding distributors at a higher level. Their commitment to designing innovative mobile electrification systems aligns perfectly with our vision to empower machine manufacturers in reducing their environmental footprint while enhancing operational efficiency,” explains Mark Schoessler, VP of sales for Parker’s Motion Systems Group. “Their expertise in designing mobile electrification systems and their capability to deliver integrated solutions will help to maximize the impact of Parker’s expanding METC network.”
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The manufacturing equipment experts at Nott Company were among the first to go through the Parker Hannifin training program, certifying their technicians on Parker’s electric motors, drives, coolers, controllers and control systems.
“We are proud to be recognized for our unwavering dedication to advancing mobile electrification technologies and delivering cutting-edge solutions,” says Nott CEO, Markus Rauchhaus. “This milestone would not have been possible without our incredible partners, customers and the team at Nott Company.”
In addition to Nott, two other North American distributors (Depatie Fluid Power in Portage, Michigan, and Hydradyne in Fort Worth, Texas) have completed the Parker certification.
Electrek’s Take
T7X all-electric track loader at CES 2022; via Doosan Bobcat.
With the rise of electric equipment assets like Bobcat’s T7X compact track loader and E10e electric excavator that eliminate traditional hydraulics and rely on high-voltage battery systems, specialized electrical systems training is becoming increasingly important. Seasoned, steady hands with decades of diesel and hydraulic systems experience are obsolete, and they’ll need to learn new skills to stay relevant.
Certification programs like Parker’s are working to bridge that skills gap, equipping technicians with the skills to maximize performance while mitigating risks associated with high-voltage systems. Here’s hoping more of these start popping up sooner than later.
Based on a Peterbilt 579 commercial semi truck, the ReVolt EREV hybrid electric semi truck promises 40% better fuel economy and more than twice the torque of a conventional, diesel-powered semi. The concept has promise – and now, it has customers.
Austin, Texas-based ReVolt Motors scored its first win with specialist carrier Page Trucking, who’s rolling the dice on five of the Peterbilt 579-based hybrid big rigs — with another order for 15 more of the modified Petes waiting in the wings if the initial five work out.
The deal will see ReVolt’s “dual-power system” put to the test in real-world conditions, pairing its e-axles’ battery-electric torque with up to 1,200 miles of diesel-extended range.
ReVolt Motors team
ReVolt Motors team; via ReVolt.
The ReVolt team starts off with a Peterbilt, then removes the transmission and drive axle, replacing them with a large genhead and batteries. As the big Pete’s diesel engine runs (that’s right, kids – the engine stays in place), it creates electrical energy that’s stored in the trucks’ batteries. Those electrons then flow to the truck’s 670 hp e-axles, putting down a massive, 3500 lb-ft of Earth-moving torque to the ground at 0 rpm.
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The result is an electrically-driven semi truck that works like a big BMW i3 or other EREV, and packs enough battery capacity to operate as a ZEV (sorry, ZET) in ports and urban clean zones. And, more importantly, allows over-the-road drivers to hotel for up to 34 hours without idling the engine or requiring a grid connection.
That ability to “hotel” in the cab is incredibly important, especially as the national shortage of semi truck parking continues to worsen and the number of goods shipped across America’s roads continues to increase.
And, because the ReVolt trucks can hotel without the noise and emissions of diesel or the loss of range of pure electric, they can immediately “plug in” to existing long-haul routes without the need to wait for a commercial truck charging infrastructure to materialize.
“Drivers should not have to choose between losing their longtime routes because of changing regulatory environments or losing the truck in which they have already made significant investments,” explains Gus Gardner, ReVolt founder and CEO. “American truckers want their trucks to reflect their identity, and our retrofit technology allows them to continue driving the trucks they love while still making a living.”
If all of that sounds familiar, it’s probably because you’ve heard of Hyliion.
In addition to being located in the same town and employing the same idea in the same Peterbilt 579 tractor, ReVolt even employs some of the same key players as Hyliion: both the company’s CTO, Chandra Patil, and its Director of Engineering, Blake Witchie, previously worked at Hyliion’s truck works.
Still, Hyliion made their choice when they shut down their truck business. ReVolt seems to have picked up the ball – and their first customer is eager to run with it.
“Our industry is undergoing a major transition, and fleet owners need practical solutions that make financial sense while reducing our environmental impact,” said Dan Titus, CEO of Page Trucking. “ReVolt’s hybrid drivetrain lowers our fuel costs, providing our drivers with a powerful and efficient truck, all without the need for expensive charging infrastructure or worrying about state compliance mandates. The reduced emissions also enable our customers to reduce their Scope 2 emissions.”
Page Trucking has a fleet of approximately 500 trucks in service, serving the agriculture, hazardous materials, and bulk commodities industries throughout Texas. And, if ReVolt’s EREV semis live up to their promise, expect them to operate a lot more than 20 of ’em.