Electric cars are considered the new development of cars like how online poker or gaming machines are the development of gambling slots. Today, there are many players in the industry. The most known one is Tesla. However, there are other startups competing in the market as Rivian. This manufacturer is not an old one, yet, it is becoming a great competitor for Tesla.
Tesla started its first manufacturing process in 2008. The manufacturer became known for the tech-driven vehicles until it recently designed the electric vehicles, which are becoming mainstream among the customers now.
Rivian as a new competitor
Although Rivian is not as common as Tesla, the company has put itself in a strong position among the electric cars’ enthusiasts. Many customers have a good impression of the manufacturer. The company started in 2009, a year after Tesla. The founder of the brand is RJ Scaringe, who started the business at the age of 26. The aim of creating this startup was to design a sports car with the same features as that of Tesla. However, a few years later, the business developed, and Rivian is now producing other car models rather than sports cars. Rivian is now a top-seller in electric vehicles as well.
The company’s revenue is now calculated in billions, and the founder himself became a billionaire. Yet, it is not only about the money it can raise but also about how the car can compete with its main competitor, Tesla. Many experts believe that Rivian has raised a sum of money that was never reached by any other company working in the same industry. Also, many investors became more interested in Rivian Company.
Success of Rivian
When we think of why Rivian became so mainstream, we will discover that the marketing that has been made for electric vehicles is the main reason for their success. Many car manufacturers have put reducing carbon emissions and saving the environment as one of their goals. Since the issue became very important for many people, they opt more for electric cars instead of internal combustion engine ones.
Because Rivian knew this, it focused more on these kinds of vehicles. The hype around the company made it a preferable option for many consumers who care a lot about the climate issue. Also, electric vehicles are believed to be more efficient than other cars.
The latest production Rivian was the R1T model, whose production was postponed because of the pandemic. However, when it launched in September, indicators have shown that it was a success. The impressions of the car were good, and the sales up till now are good as well considering the global situation of the pandemic we are living in now.
There is still a long way to reach the aspired goals. Sales of electric cars were just 2% of the whole automotive sales in the USA. However, it is anticipated that the market will keep growing, and the competition will increase. Maybe new players will enter the market as well.