Rivian’s R2 pre-order numbers trace at pent-up demand for Musk-free EV innovation

Rivian’s R2 reservations are off to a sizzling begin. On Friday, CEO RJ Scaringe posted on X that the automaker had taken greater than 68,000 reservations for the SUV in lower than 24 hours. Amid alarmingly weakened demand for electrical automobiles, maybe there’s a latent curiosity in revolutionary EV corporations once they aren’t helmed by a battle magnet with a fixation on baseless conspiracy theories and the supposed online “rights” of Neo-Nazis.

Rivian’s 68,000 reservations maintain up properly in opposition to its most high-profile rivals. It took Ford about three weeks to get 100,000 pre-orders for the F-150 Lightning. Tesla’s Cybertruck bought 250,000 reservations in lower than every week. To be truthful, reserving a Rivian R2 solely requires a $100 deposit the identical because the Cybertruck and F-150 Lightning.Prospects plunking down a Benjamin to carry one don’t have any obligation to pay the remaining $44,900 (and up) when the automobile lastly arrives in 2026, and even when they intend to purchase one now, that’s loads of time to alter their minds.

You can argue that — like with Tesla and Ford — Rivian selected the low deposit to construct hype, realizing full properly that many pre-order clients received’t comply with by. However it additionally helps that Rivian’s event on Thursday did all the things the corporate wanted. The R2 appears “fairly fetching,” as Engadget’s Lawrence Bonk identified. On the within, it has smooth and refined particulars like two glove packing containers, fold-down rear and entrance seats, a slide-out cargo ground and twin scroll wheels with dynamic haptic suggestions on the steering wheel. It additionally has a 300-mile minimal vary and a $45,000 beginning worth, which does not damage.

And, after all, the shock “Yet one more factor”-style reveal of the cheaper, sportier and extra compact R3 and R3X might assist present a halo impact for the corporate when it desperately must construct pleasure round its model. In February, Rivian introduced that it will lay off 10 p.c of its salaried employees, and this week, it minimize 100 workers at its Illinois manufacturing facility. Nonetheless, the EV market might use a brand new “hero.” I do not know if Rivian or its CEO, RJ Scaringe, has potential to be the face of the business. However Elon Musk, its present poster boy, is a lightning rod for unnecessary turmoil.

In a survey of Individuals performed by The Harris Poll late final 12 months, 45 p.c of respondents mentioned that they had a decrease opinion of EVs “due to the actions of individuals related to them.” (I’m fairly certain they didn’t imply Ford’s Doug Field or GM’s Mary Barra.)

Maybe Rivian’s spectacular exhibiting reveals at the least some Individuals have an urge for food for an EV maker that’s neither a standard auto firm nor one helmed by somebody who, at instances, appears extra concerned with behaving like a teenage contrarian than a accountable grownup serving as the general public face of an business the world desperately must develop up — and get individuals enthusiastic about driving electrical automobiles — as local weather change begins to ravage the planet.