Rivian R1T Named 2022 MotorTrend Truck Of The Year: What Investors Should Know

An electric vehicle company that went public and debuted its electric pickup truck in 2021 has another reason to celebrate Monday morning.

What Happened: The R1T electric pickup truck from Rivian Automotive RIVN was announced as the 2022 MotorTrend Truck of the Year Monday morning.

“A remarkable original take on the pickup truck redefines the genre,” MotorTrend said in its announcement.

MotorTrend previously called the R1T “the most remarkable pickup truck we’ve ever driven.”

The Rivian R1T won the award based on its position in several categories. MotorTrend highlighted the truck’s advancement in design.

“Inside, Rivian delicately balances the modern, minimalist EV aesthetic with the quality of materials its price demands and the functional requirements of a true pickup truck.”

The truck’s engineering excellence is highlighted through its skateboard layout and body-on-frame being similar to traditional pickups, Motor Trend said.

“Rivian could’ve taken the easy way out and bolted a traditional cab and box on top. Instead, the company engineered a unitized cab and pickup box that opens up new design opportunities.”

The R1T has 314 miles of range, which MotorTrend said is enough for most road trips and off-road adventures.

Rivian’s truck also hauls more, tows more and has other superior features to the GMC Hummer EV pickup from General Motors Corp GM, according to the report.

“Stand it next to legacy pickup trucks at the same price point and it’s equally competitive.”

Rivian counts Ford Motor Company F and Amazon.com Inc AMZN as investors in the company.

Related Link: The Rivian IPO: What You Need To Know 

Why It’s Important: MotorTrend has awarded electric vehicles with top honors on several occasions, which could signal a continued changing of the guard from legacy automakers to those focused on growth in electric vehicles.

The Tesla Inc TSLA Model S was previously named the MotorTrend Car of the Year. 

In November, MotorTrend announced the Lucid Air from Lucid Group LCID as its MotorTrend Car of the Year for 2022. The electric vehicle beat out 24 competitors, including many traditional automotive ICE vehicles.

For the first time ever, an electric car and electric truck are serving as the MotorTrend vehicles of the year in their respective fields at the same time.

MotorTrend highlights pickup trucks being the best-selling vehicle class in America for over 40 years and the market need for an electric model.

“Long gone are the days when pickups were simple tools. Today they are and for the better part of the century have been, family cars, luxury vehicles, off-roaders, lifestyle vehicles and performance cars of all stripes,” MotorTrend said.

RIVN Price Action: RIVN shares are up 1% to $116.10 on Monday. RIVN shares have traded between $95.20 and $179.47 since going public in November.

Disclosure: Author is long shares LCID.

Photo courtesy of Rivian.