Latest news with #Rivians
New York Post
13-06-2025
- Automotive
- New York Post
How Rivians became the ‘it' car in the Hamptons: ‘Everyone is dumping their Cybertruck'
Over the past year, a striking shift has occurred in the Hamptons, Palo Alto and other high-end enclaves: Teslas — and being in any away associated with Elon Musk — are out. Rivians and Lucids are in for those looking to signal their environmentally conscious bonafides. 'Everyone is dumping their Cybertruck — they are desperate to find someone to take them away,' Matthew Ammirati, founder of the Bridgehampton Motoring Company which works with high-end car collectors, told me. 3 Rivians have become the favorite of the elite eager to show they support electric vehicles but not Musk. Rivian Rivian's electric trucks are gaining traction among wealthy buyers simply because they have no association with Elon Musk (and by extension Donald Trump). This despite their premium sticker prices: R1T pickup trucks start at $70,000, while R1S SUVs start at $75,000 — roughly three times more than a base-model Tesla. According to Rivian, the company has 114,000 people on waitlist for their SUVs and trucks, with some customers being told they won't get their cars until 2026 — an indication that the cars are about status, not urgently needing a ride. 'On the high end, Rivians have become front and center,' Dan Ives, the Managing Director and Senior Equity Research Analyst covering the Technology sector at Wedbush Securities, told me. 'You're seeing a lot more Rivians in East Hampton.' Rivian has even invested in a new charging station-store combination in the Hamptons, only the second of its kind globally. (The other is in Yosemite, California.) Just a year ago, Rivian faced severe financial struggles, with a declining stock price, deliveries dropping, and Elon Musk posting on X the company would end up bankrupt. Miraculously, the company turned around, thanks in part to a $5 billion Volkswagen partnership. 3 Rivian has invested not just in chargers in the Hamptons — but also an outpost with merchandise. Rivian Adventure Network Tracker / X The embrace of Rivian and Lucid vehicles, however, is really only possible for a handful of wealthy buyers given their penchant for breaking down so frequently. 'Rivians and Lucid are a nightmare from charging, insurance, accident — it would win most likely to get a car stuck on the beach,' Ammirati said. 3 Cybertrucks have gone from coveted — with thousands of people on the waitlist — to something very easily purchased on the secondary market as people ditch their Tesla products. Getty Images Travis Ketchum, who runs a software firm and reviews cars on the side out of Seattle, Wash., switched from a Tesla to a Rivian last year because of the politics rather than the quality of the car. While he doesn't regret it, he acknowledged that it has come with a number of setbacks. This story is part of NYNext, an indispensable insider insight into the innovations, moonshots and political chess moves that matter most to NYC's power players (and those who aspire to be). 'It's often months before your car can be seen [for repair at a dealership] and it'll be there days before people start working on it,' he said. He and his family have multiple back-up vehicles for when their Rivian breaks down While Rivian and Lucid appears to have overtaken Tesla in some exclusive enclaves, analysts suggest that Elon Musk is unperturbed by the loss of high-end buyers. It's 'not a bad thing for Tesla,' Ives noted. 'But now the Tesla customer is the masses — they are focused on a more reasonable price point and autonomous cars.' While Elon Musk's recent fissure with Donald Trump seems to benefit his share price, any sort of detente or reconciliation could actually be helpful long-term as Musk tries to get approval for his Robo-taxis and seeks possible government contracts for the vehicles. Send NYNext a tip: nynextlydia@
NDTV
06-06-2025
- Automotive
- NDTV
End Of Human Delivery Workers? Amazon Testing Humanoid Robots That 'Spring Out' Of Vans
E-commerce giant Amazon is preparing to deliver orders to its customers' doors via a humanoid robot workforce. These robots would "spring out" of the vans and deliver the orders and eventually take the jobs of the delivery workers, according to a report in The Information, as cited by The Guardian. The tech behemoth has already built a "humanoid park" at its San Francisco office to test the delivery robots. An indoor obstacle course, about the size of a coffee shop, is being used to test the agility of the robots. Amazon is hoping that the robots will be able to travel in its Rivian vans and expedite the deliveries. Currently, Amazon has 20,000 Rivians in the US and has placed one of teh vans in the testing maze. Once the robots have aced the humanoid park, they will be taken for 'field trips' in the real world, where the robots will attempt to deliver packages to homes. Amazon is developing the artificial intelligence (AI) software that would power such robots, adding that the company plans to use hardware from other firms in its tests, for now. Robots and Amazon Even with a human driver, a robot could theoretically speed up drop-off times by visiting one address while the human employee delivers to another. The company is also hoping to include Zoox, a robotaxi company it acquired in 2020, to fully automate end-to-end package delivery -- from the warehouse to the customer's front door. The $2 trillion company is already using a variety of autonomous robots in its warehouse operations. It has deployed Digit robot, developed by Agility Robotics, which allows employees to hand off work to humanoids and become a 'robot manager'. Last year, Amazon was given permission to test-fly drones beyond a human controller's line of sight in the UK, paving the way for using the technology in home delivery.
Irish Examiner
05-06-2025
- Automotive
- Irish Examiner
Amazon ‘testing humanoid robots to deliver packages'
Amazon is reportedly developing software for humanoid robots that could perform the role of delivery workers and 'spring out' of its vans. The $2tn (€1.75tn) technology company is building a 'humanoid park' in the US to test the robots, said the tech news site the Information, citing a person who had been involved in the project. The Information reported that the robots could eventually take the jobs of delivery workers. It is developing the artificial intelligence software that would power the robots but will use hardware developed by other companies. The indoor obstacle course being used for the tests at an Amazon office in San Francisco is about the size of a coffee shop, the report said, with the company hoping that the robots will be able to travel in Amazon's Rivian vans and make deliveries from them. Even with a human driver behind the wheel, a robot could theoretically speed up drop-off times by visiting one address while the human employee delivers to another. Amazon also has an interest in self-driving vehicles through its Zoox unit. Amazon has more than 20,000 Rivians in the US and has placed one of the vans in the humanoid testing zone, according to the report. Once it has tested the robots in the humanoid park, it plans to take them on 'field trips' in the real world where they will attempt to deliver packages to homes. Robot trials Amazon has already conducted trials with humanoid robots, deploying devices developed by the US company Agility Robotics in its warehouses. The chief executive of Agility, Peggy Johnson, told the Guardian last year that the company's Digit robot allowed employees to hand off work to humanoids and become a 'robot manager'. Last year Amazon was given permission to test-fly drones beyond a human controller's line of sight in Britain paving the way for using the technology in home delivery. Prof Subramanian Ramamoorthy, the chair of robot learning and autonomy at the University of Edinburgh, said Amazon had a respected robotics team and its reported focus on 'last mile' delivery was not a surprise. The humanoid robot hardware capable of carrying out such a task is coming available, and the field is developing rapidly, he said. However, he added, the challenge is to achieve reliable performance outside highly constrained environments such as the reported 'humanoid park'. He said: 'If Amazon restricts the scope, which means using relatively clear driveways and standard layouts of doors and surroundings, then the task would be quite a bit simpler. As the environments become more complex and variable, and others enter the picture – such as pets and small children – the problems become harder.' Amazon has been contacted for comment. The Guardian Read More High Court grants TikTok stay on suspension of data transfers to China
Yahoo
16-05-2025
- Automotive
- Yahoo
Rivian (RIVN) Target Trimmed to $18 After Q1 Beat
Rivian Automotive (RIVN, Financials) delivered a better-than-expected quarter, but slower shipments and macro pressures led Wedbush to trim its price target to $18. The firm kept its Outperform rating, betting on Rivians long-term potential. Warning! GuruFocus has detected 7 Warning Signs with RIVN. Rivians Q1 revenue came in at $1.24 billion, outpacing the $997.7 million Wall Street expected. The company also posted a smaller adjusted EBITDA loss of $300 million, beating forecasts from both Bank of America and broader consensus. Despite the upside, Rivian cut its full-year delivery outlook to 40,00046,000 vehicles. Q1 deliveries fell to 8,640 down 36% from a year ago. The drop comes as Rivian works to lower costs and stay on track for profitability. Bright spots included software and services revenue, which jumped to $318 million from $214 million. Gross margin improved to 17%, with a second straight quarter of positive gross profit ($26 million), helped by regulatory credits and Volkswagen (VOWG_p) payments tied to their partnership. Rivian also teased a fall event AI and Autonomy Day to outline its next steps in driver-assist tech and data-driven autonomy features. Wedbush says the long-term thesis remains intact, but macro uncertainty and cost discipline could weigh on short-term performance. Track insider activity. Check the Peter Lynch valuation. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Automotive
- Yahoo
Rivian (RIVN) Target Trimmed to $18 After Q1 Beat
Rivian Automotive (RIVN, Financials) delivered a better-than-expected quarter, but slower shipments and macro pressures led Wedbush to trim its price target to $18. The firm kept its Outperform rating, betting on Rivians long-term potential. Warning! GuruFocus has detected 7 Warning Signs with RIVN. Rivians Q1 revenue came in at $1.24 billion, outpacing the $997.7 million Wall Street expected. The company also posted a smaller adjusted EBITDA loss of $300 million, beating forecasts from both Bank of America and broader consensus. Despite the upside, Rivian cut its full-year delivery outlook to 40,00046,000 vehicles. Q1 deliveries fell to 8,640 down 36% from a year ago. The drop comes as Rivian works to lower costs and stay on track for profitability. Bright spots included software and services revenue, which jumped to $318 million from $214 million. Gross margin improved to 17%, with a second straight quarter of positive gross profit ($26 million), helped by regulatory credits and Volkswagen (VOWG_p) payments tied to their partnership. Rivian also teased a fall event AI and Autonomy Day to outline its next steps in driver-assist tech and data-driven autonomy features. Wedbush says the long-term thesis remains intact, but macro uncertainty and cost discipline could weigh on short-term performance. Track insider activity. Check the Peter Lynch valuation. This article first appeared on GuruFocus. Sign in to access your portfolio
