Rivian R2 Reveal w/ R3 and R3X Surprises! $45K, 0-60 >3 seconds, 300+ miles range, NACS port, 4695 batteries

[areacode413]

"I don't like it" isn't a good reason to use the power of government to stop it.

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[Mach1E]

The root of government regulations is someone who doesn't like what someone else is doing.

I think we just need to mind our own business and let free people do what they want to do. All those people paying for a CT reservation aren't hurting you at all. "I don't like it" isn't a good reason to use the power of government to stop it.

Should be obvious that I don’t think it’s hurting me.

I just think it’s an unfair business practice and they’re taking advantage of people by proposing a $39k truck that will come out in 2021 and instead delivering a $100k truck in 2024 and only making enough to fulfill 2% of the reservations.

And the end result was a half billion dollar loan for 5 years or more interest free.

If I am selling 1 house, I can’t take 50x the amount of deposits compared to how many houses I’m selling, then use that money, double the price, delay the sale for 4 years just because I put “no obligation” in the fine print.

I can take 1 deposit, NOT touch the money and put it in a non-interest bearing escrow account.

Why? Because that pesky government created laws to protect people when buying a home.

 

[Mach1E]

I must be getting old. Or delusional. I thought I shelled out $D for a place in the MME reservation queue.
And look what I got (after a time)
Are they coming to take me away HaHa Ho ho

Very important difference-

They stopped taking reservations and CLOSED reservations when the # of reservations = the planned production for that model year.

And when they slightly overbooked, they gave anyone who got kicked into the next model year price protection.

Seems like a much more fair and reasonable business practice.

 

[mkhuffman]

Should be obvious that I don’t think it’s hurting me.

I just think it’s an unfair business practice and they’re taking advantage of people by proposing a $39k truck that will come out in 2021 and instead delivering a $100k truck in 2024 and only making enough to fulfill 2% of the reservations.

And the end result was a half billion dollar loan for 5 years or more interest free.

If I am selling 1 house, I can’t take 50x the amount of deposits compared to how many houses I’m selling, then use that money, double the price, delay the sale for 4 years just because I put “no obligation” in the fine print.

I can take 1 deposit, NOT touch the money and put it in a non-interest bearing escrow account.

Why? Because that pesky government created laws to protect people when buying a home.

Before government decided it needed to try to protect us from everything, there used to be a phrase: buyer beware. I wish our culture would return to the value of personal responsibility, and get away from depending on a very imperfect government to protect us from every conceivable problem.

If you value personal responsibility, then you will know that everyone who spends their own money is responsible for determining if it is worth it to them, and if they make a mistake, it is on them, not someone else.

I know exactly what I am doing with my $100 R2 reservation, and I fully understand Rivian might be bankrupt before they ever produce the vehicle. It is MY money so it is MY responsibility to determine how I spend it. Not some idiotic politician or regulator.

 

[Mach1E]

Before government decided it needed to try to protect us from everything, there used to be a phrase: buyer beware. I wish our culture would return to the value of personal responsibility, and get away from depending on a very imperfect government to protect us from every conceivable problem.

If you value personal responsibility, then you will know that everyone who spends their own money is responsible for determining if it is worth it to them, and if they make a mistake, it is on them, not someone else.

I know exactly what I am doing with my $100 R2 reservation, and I fully understand Rivian might be bankrupt before they ever produce the vehicle. It is MY money so it is MY responsibility to determine how I spend it. Not some idiotic politician or regulator.

That’s fair. I just think there should be more of a balance. Sometimes* we do need rules and regulations to prevent unfair trade practices.

Without them, what’s to stop companies from taking millions from people and completely lying the entire time? Buyer beware right?

This shouldn’t be an all or nothing thing either. I would bet there are plenty of consumer laws you would support, you’re just worried about too many restrictions.

I work in a very extremely regulated industry (financial planning), but for good reason. Even with all the rules and regulations, people still get caught in a Ponzi scheme sometimes. But luckily the oversight helps prevent much much more from happening.

It’s probably why I’m a bit more sensitive with this topic if I think a company is tricking people out of millions of dollars in a type of Ponzi scheme.

Take deposits when you can actually deliver that many cars. What Ford did.

 

[son of a swen]

At the very least I’m curious how the tri motor R2 and R3 perform and cost.

what about time? It took Tesla 7 years to come out with the ugly Cyber truck...Rivian SAYS 2 years. Promises Promises.....

 

[SolarAB]

First of all, that was a Steve Jobs caliber unveiling, complete with the "one more thing". Pretty fun IMHO.

Second, they have my $100 to get in line for the R2. I'm not going to get too excited until we see more details and get closer to the actual ordering process, but I like what I saw today and could easily see the R2 replacing my 2022 Premium ER AWD MME.

Yes, I made a reservation as well. It looks good from a 2024 perspective. How it will look in 2026 is a question, but if I still like it then I'll be on the list. P.S. reservations in Canada are $150 CDN.

 

[voxel]

The R2 will be at the Orlando Electrify Expo on Sunday (and only Sunday) according to the Florida Rivian Club. Will check it out.

 

[GreaseMonkey]

Yes, I made a reservation as well. It looks good from a 2024 perspective. How it will look in 2026 is a question, but if I still like it then I'll be on the list. P.S. reservations in Canada are $150 CDN.

Building in a further deterioration in a natural resource-based economy vs AI center of the universe . Joking.

 

[mkhuffman]

That’s fair. I just think there should be more of a balance. Sometimes* we do need rules and regulations to prevent unfair trade practices.

Without them, what’s to stop companies from taking millions from people and completely lying the entire time? Buyer beware right?

This shouldn’t be an all or nothing thing either. I would bet there are plenty of consumer laws you would support, you’re just worried about too many restrictions.

I work in a very extremely regulated industry (financial planning), but for good reason. Even with all the rules and regulations, people still get caught in a Ponzi scheme sometimes. But luckily the oversight helps prevent much much more from happening.

It’s probably why I’m a bit more sensitive with this topic if I think a company is tricking people out of millions of dollars in a type of Ponzi scheme.

Take deposits when you can actually deliver that many cars. What Ford did.

I hear you, but using that logic, Rivian should not accept payment for any reservations.

At their current cash burn rate, their chance of survival is low. And that is reflected in the stock price. And as a stockholder from around the time of the IPO, I am feeling that pain. But I take full responsibility for jumping in too early, and I do not need or want a nanny government telling me I can't buy a risky stock, or give Rivian $100 for a reservation for a truck that may never get produced.

 

[Mach1E]

I hear you, but using that logic, Rivian should not accept payment for any reservations.

At their current cash burn rate, their chance of survival is low. And that is reflected in the stock price. And as a stockholder from around the time of the IPO, I am feeling that pain. But I take full responsibility for jumping in too early, and I do not need or want a nanny government telling me I can't buy a risky stock, or give Rivian $100 for a reservation for a truck that may never get produced.

For sure there is risk the $100 refundable deposit never gets refunded if they go under.

And yeah, by that logic, they shouldn’t be taking money right now.

But they desperately need it, the government will let them, so that’s why they are.

I wouldn’t be surprised if behind closed doors they fully know they’ll never deliver a car at that starting price. How long was it before Tesla had a $35k model 3? The Model 3 unobtainium model?

 

[mkhuffman]

For sure there is risk the $100 refundable deposit never gets refunded if they go under.

And yeah, by that logic, they shouldn’t be taking money right now.

But they desperately need it, the government will let them, so that’s why they are.

I wouldn’t be surprised if behind closed doors they fully know they’ll never deliver a car at that starting price. How long was it before Tesla had a $35k model 3? The Model 3 unobtainium model?

The R2 starting price is super aggressive. They have to cut cost at every possible place and even then it will be very hard to make a marginal profit on them.

BTW - I doubled down and just about doubled my stock holdings when it dropped below $11.00. I figure I lost so much already, I may as well double my return if it comes back to where I originally purchased it. Now I am speculating, not investing!

 

[voxel]

The R2 is a bigger Bronco Sport... and that's probably a good comparison. The R1S is the Bronco and the R2 with the unpowered frunk and non-air suspension is the smaller Bronco Sport.

It's cost cutting. Interior looks cheaper too.

 

[CarGuy11]

Is the frunk power open or just spring loaded? Doesn't make sense its not power close if there there is a motor.

 

[LincolnLuvr]

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