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Rivian aims for 155,000 of its $45,000 R2 electric SUVs in Illinois

Baua Electric

Just after the reveal of its more affordable R2, R3, and R3X models in March, Rivian announced plans to rejigger its production capacity at its existing plant in Illinois, to accommodate the R2 electric SUV at that plant instead of an even larger one in Georgia that remains on the drawing board.

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Auto parts seller LKQ cuts 2024 sales forecast as warm weather slows demand – ET Auto

Baua Electric

Auto parts distributor LKQ cut its full-year sales forecast on Tuesday and missed estimates for first-quarter profit amid falling metal prices and softening demand for spares in North America. It now expects to report organic revenue growth for parts and services between 2.5% for 2024, down from its prior guidance of 3.5%

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Lucid Motors, Rivian sued by Illinois car dealers for direct sales

Teslarati

Lucid Motors and Rivian were sued by the Illinois Automobile Dealers Association, the Chicago Automobile Trade Association, and some individual franchised auto dealerships in the state for selling vehicles directly to consumers. Sander represents more than 700 auto dealers that operate over 2,300 franchises across the state.

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Rivian (RIVN) adds R1S SUV to lease program and expands to additional states

Baua Electric

The American automaker has also added two more states to its lease program – Illinois, where the EVs are currently built, and Virginia. FTC: We use income earning auto affiliate links. The post Rivian (RIVN) adds R1S SUV to lease program and expands to additional states appeared first on Bauaelectric Auto News.

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Rivian is looking to produce 1 million vehicles annually by the end of the decade

Teslarati

Rivian priced its initial public offering at $78 per share, which gave the electric truck maker a valuation of over $77 billion. That’s equal to a valuation of about $104 billion , larger than veterans in the auto sector such as Ford Motor Company and General Motors, whose market caps stand at $79.21 billion and $87.01

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Hertz’s EV sale to fan cost concerns, dampen used-car market – ET Auto

Baua Electric

“Mainstream consumers are already hesitant to buy an EV, and this news only supports their concerns.” ” The higher costs associated with repairing EVs stem from a lack of sufficient expertise in dealing with such vehicles and challenges in getting the replacement parts as they are still very new, industry experts said.

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Estes just offset nearly 100% of its energy needs with rooftop solar

Baua Electric

Estes is also actively working on two more solar projects in Norfolk, Virginia, and Joliet, Illinois, respectively – all completed in partnership with Dynamic Energy. FTC: We use income earning auto affiliate links.

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