4.4 C

Rivian has already received 68,000 reservations for the R2



Less than 24 hours since its launch, the Rivian R2 is already proving to be quite popular. The company’s CEO, RJ Scaringe, said it’s already taken in “more than 68,000 reservations” for the $45,000 midsize electric SUV.

“We are thrilled to see this vehicle resonate so strongly with our community!” Scaringe said in a post on X.

Rivian unveiled the R2, as well as the more compact R3 and R3X, at an event in Laguna Beach, California, on Thursday. The new EVs are meant to be more affordable than the company’s current lineup, currently made up of the R1T truck and R1S, each of which sells for over $70,000.

To be sure, the bar for reserving an R2 is quite low

To be sure, the bar for reserving an R2 is quite low. The deposit is only $100 and is fully refundable, according to Rivian’s preorder agreement. By comparison, Tesla charged $1,000 (also refundable) to reserve the Model 3 when it was first announced in 2016. And reservation holders are under no obligation to actually buy the vehicle when it becomes available.

Also, Rivian doesn’t necessarily get to transfer the $6.8 million it received in reservation cash directly to its bank account. According to the company’s terms of service, the money “will be held by Rivian in a separate account designated solely for Preorders and released for application towards the final sales price of Your Selected Vehicle when you execute the Final Sales Agreement.”

Still, 68,000 reservations are a sign that at least that many people are eager to get in line and wait for a Rivian R2 to become a reality. And the company hasn’t even opened up reservations for the R3 or the R3X, which will be less expensive and is generating even more buzz than the R2.

Source link

Subscribe to our magazine

━ more like this

7 people with power at Coinbase

Coinbase launched in 2012 as a one-man startup with the goal of bringing crypto into the mainstream. It has since grown into a...

AI hallucinations will be solvable within a year, ex-Google AI researcher says—but that may not be a good thing

If you’ve ever asked ChatGPT, Gemini and other generative AI chatbots a question, you’ll have found that the answers they throw out can...

Anker’s latest Soundcore Sleep earbuds actually improve slumber for less than $90

“Sleep when you’re dead” was the rallying cry of my youth. But now, in the soft haze of dull middle age, I feel...

Jamie Dimon’s JPMorgan and other North American banks are so far ahead in the AI race that one indexing boss says it’s now a...

While the likes of Google, Amazon and OpenAI battle it out in Big Tech for the top spot, JPMorgan is quietly winning Wall...

Humor in the Workplace: How to Be Funny at Work Without Crossing the Line

If laughter truly is the best medicine, then shouldn’t we all be laughing more at work, where we spend a third of our...