Written by Cláudio Afonso | [email protected] | LinkedIn | X
Rivian signed on Monday a global partnership with the Australian-based mining electric vehicle company Mevco to supply its R1T model to the mining industry.
Mevco will customize the model to mining specifications and support mines on charging infrastructure, maintenance and workflows, the company stated.
Says Matt Cahir, CEO of Mevco enhanced Rivian’s R1T “on and off-road capabilities” and its “robust design and adaptability”.
Dagan Mishoulam, Rivian’s VP of Strategy, said “it’s great to see the R1 vehicles being incorporated into MEVCO’s fleet” adding that Rivian is “excited to help them reduce tailpipe emissions”.
The EV maker has expanded its leasing program to include four additional U.S. states, granting access to the $7,500 EV tax credit. The addition of Maryland, New Mexico, Virginia, and Alaska brings the total number of states on the list to 30.
Over the last weeks, the electric vehicle (EV) manufacturer led by RJ Scaringe has been spotted multiple times testing its highly awaited updated versions in Palo Alto, California.
Rivian’s recent update to the NHTSA’s VIN database reveals preparations for the introduction of a Tri-Motor variant and a new “Premium” trim level for the upcoming version of its model R1S and R1T.
On Friday, Barclays analyst Dan Levy has revised Rivian Automotive’s price target down to $10 from $12 while maintaining an Equal Weight rating on the shares. The updated target represents an upside potential of 13.25 percent based on the Thursday’s closing price of $8.83 per share.
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Rivian’s plant in Illinois is currently temporary closed until the end of the month for the implementation of new technologies and production methods aimed at substantial cost reduction.
As initially reported by EV, the company started on Wednesday a new round of layoffs to “support our goal to be gross margin positive by the end of the year,” as said in an email to Reuters.
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Written by Cláudio Afonso | [email protected] | LinkedIn | X
