Best renewable energy stocks like Tesla make space for Rivian Automotive
Move over Tesla. We have met the future and it’s Rivian Automotive.
While Tesla and its founder Elon Musk mightily try to get Model 3 production up to speed and try to be among the best renewable energy stocks, Rivian, a new electric vehicle company, recently unveiled an all-electric pickup truck and SUV at the LA Auto Show which means good news for Franchise Holdings International and its subsidiary Worksport. The industry reaction was incredible and full of praise. Frankly we thought we had seen the future—and it was Rivian.
Dubbed the R1T, Rivian’s five-passenger pickup truck is also configured as an SUV, the R1S. Both are built on the company’s unique “skateboard” platform. The battery pack and drive units, as well as the suspension, braking, and thermal systems, are below wheel height. This enables a much lower center of gravity, improving stability on and off road. With no big gasoline or diesel engine, there’s more room for people and things.
Low center of gravity, innovative cabin space
The lower center of gravity lends itself to better handling, which holds true for most similarly configured electric vehicles, including Tesla’s. But the truck also will have a double wishbone suspension up front and multi-link suspension in the rear, more sophisticated than what’s found on most pickups. Tools can also be recharged from the large vehicle battery.
Rivian’s designers were very innovative with cabin space, providing more room for passengers and gear.
Worksport believes these trucks will win high-profit margin truck sales from the Big Three.
It’s around the size of a Ford F-150, edgy and futuristic, head-turning but not extreme. There are striking wraparound LED lights, red at the back and white with vertical headlights at the front, somewhat like the Ford’s. It is certainly a distinctive look, like nothing else on the market.
A truck that goes 0-60 in three seconds
Rivian has deployed four 147-killowatt electric motors, one on each wheel, which should allow a 0–60 mph three seconds—crazy for a truck. Incredibly the R1T’s tow rating is 11,000 pounds. Its off-road abilities are unprecedented. Having one motor per wheel gives it the kind of traction control for just about any challenge. That also puts the power exactly where it’s needed. Not from an engine to wheels through mechanical transfer. The technical advantages are remarkable in having each wheel independently driven.
Base price will be U.S. $62,000 for a 230-mile-range truck. The first version will be rated at 400 miles between charges; the longer range is sure to cost substantially more. Electric pickups could help persuade buyers of large, powerful utility vehicles — market’s main direction — to try electric powertrains. Higher-end pickups are similar to the Rivian’s cost. A fully loaded GMC Denali pickup, for example, reaches U.S. $67,000.
FNHI’s subsidiary Worksport operate in same market as Rivian – Among the best renewable energy stocks
As a fast-growing entrepreneurial company, Worksport is fascinated with Rivian and its founder, RJ Scaringe. “We are operating in the same market,” said Worksport and FNHI CEO Steve Rossi. “And both companies have provided a technological advantage to almost anything else on the market. Rivian’s innovations will complement our own breakthroughs. For every milestone electric vehicles achieve, that makes out own advances in solar power—like our Helios tonneau cover—closer to market acceptance.” To belong among the best renewable energy stocks innovation and growth is what keeps us moving as one of the innovative solar energy stocks of today.
According to Rossi, Scaringe has been stealthy (zero PR, unlike Tesla) as he developed Rivian since its founding in 2009. He is 35, graduated from Rensselaer Polytechnic Institute and holds a doctorate in engineering from the Massachusetts Institute of Technology’s (MIT) famed Sloan Automotive Laboratory. Sloan is the global epicentre of vehicle and manufacturing technology and processes. Before starting Rivian, Scaringe had never worked for an auto company. His love for cars dates back to his youth in Cocoa Beach, Fla., near the Kennedy Space Center, where he refurbished classic Porsches. “He definitely is a gear head, like many of us in the industry,” Rossi said.
As of the LA introduction, Rivian employs 600 people at five sites, including Plymouth, Michigan (vehicle design), San Jose, California (self-driving tech), and Irvine, south of Los Angeles, where it’s developing batteries.
Ground breaking yet headquartered in the Motor City
It’s an old-fashioned industry with the fresh thinking and management agility a start-up allows. Unlike some start-ups, Rossi said, Scaringe admires those things the auto industry does well. Accordingly, he put his headquarters outside Detroit.
“The industry has developed core expertise in the supply chain and in manufacturing,” Scaringe told the LA Times. “Michigan is where we can access that talent. We can stand on the shoulders of what’s been done before.” Thats where they can grow their business to measure themselves with the best renewable energy stocks.
Innovation in manufacturing will be a key element in Rivian’s success, Scaringe told the Times, but he has no plans to make the factory look like a spaceship. His approach is the tried-and-true “lean” approach to manufacturing, first developed by Toyota, which emphasizes constant improvement over dramatic attempts at cutting-edge automation.
Fast, fun and capable
“We’re going to take the traditional tradeoffs that exist in the segment—poor fuel economy, not fun to drive, not good on the highway—and make them strengths,” Scaringe said to Wired magazine. He promises his vehicle will be “fast, fun, and extremely capable.”
“His success will depend on whether or not consumers embrace electric vehicles, which certainly is happening,” FNHI CEO Rossi added. “Like Worksport, where the market for our products has a giant upward curve, electric vehicles only represent approximately 1% of vehicle sales.”
New forms of distribution essential
Rossi believes that Rivian’s success will also include new forms of distribution, much as Tesla sells cars in malls, for example. Rivian intends to sell cars over the internet, or as a subscription service.
“We are very excited about Rivian,” Rossi said. “It’s the kind of company we intend to be, with the kind of financing we are also seeking. It’s definitely a positive development for the truck market, and for Worksport to grow sideways with the best renewable energy stocks and to stay among the best companies to invest in. Their growth will help us grow.”