Rivian To Build, Offer Smaller Electric Vehicles In Europe And China

Rivian plans to offer smaller-sized vehicles in both Europe and China, Reuters reported Wednesday. 

What Happened: The Amazon.com, Inc AMZN-backed electric vehicle company has ambitions to build some vehicles in the two markets, according to Reuters.

The Michigan-based company plans to offer its existing SUV vehicle in Europe in 2022 and in China soon after.

Rivian CEO R.J. Scaringe told Reuters that it is the follow-on smaller vehicles — expected to share key components with their larger cousins —  that will “drive volumes” in Europe and China.

“We wouldn’t be serious about building a car company if we weren’t thinking about China and Europe as important markets long term,” said Scaringe.

Why It Matters: Competition is intensifying in the electric pickup market as Rivian's own backer — Ford Motor Company F — is reportedly planning to also offer similar vehicles. 

Others joining the pickup fray include General Motors Company GM and Tesla Inc TSLA. The SUV market is also getting crowded, noted Reuters. 

Rivian has started taking advance orders for its pickup models R1T and R1S priced at $75,000 and $77,500, both priced above Tesla’s Cybertruck. 

The company says all its electric vehicles will be equipped with a free driver assistance system, which will automatically steer and adjust the speed of the vehicle at the driver’s command.

Photo by Richard Truesdell on Wikimedia