Tesla And Rivian Are Redefining Two Key Automotive Concepts

While in different ways, both Tesla Inc TSLA and Rivian Automotive RIVN took a shot at redefining two automotive concepts. Tesla challenged the design concept of pickups with its Cybertruck that is officially being delivered as of last Thursday, while Rivian Automotive RIVN took a shot at redefining the concept automotive retail with its upcoming flagship store.

Rivian Is Opening Its Flagship Store In Historic Theater

Scheduled for December 9th, Rivian will be opening its first flagship retail location at Rivian South Coast Theater. Its first flagship store in Laguna Beach, California, is a big milestone in Rivian’s expansion strategy. Located just 15 miles from Rivian’s Irvine headquarters, it will be the largest of its retail spaces, spreading across 11,000 square feet. By choosing a historic theater, Rivian made a bold move as it blended automotive retail with its commitment to engage with communities, creating a unique experience that goes beyond traditional vehicle shopping.

Tesla Finally Brought The Cybertruck To Reality

Last Thursday, Tesla finally began delivering its much-delayed electric pickup and therefore, entered one of the most lucrative automotive segments. Unlike pickups from General Motors GM and Ford Motor F, Tesla brought stainless steel and sharp angles to the design equation. 

2023 Entered History As The Year Of Electric Pickups

Rivian is the first automaker to bring the world’s first electric pickup to the road, but Rivian R1T has now got company. The futuristic Cybertruck promises to shake things up in the pickup world. Moreover, even though pickup sales slowed down, they are still growing more than the overall automotive market. Over the first nine months of 2023, Kelley Blue Book reported that the electric version of Ford F-150, named the Lightning, experienced a rise of 40% to more than 12,000 vehicles sold, while Rivian pickups followed with a 28% increase, exceeding 14,000 electric pickups sold.

A Future Where Tesla Is Challenged Seems To Be Approaching

Despite Tesla’s price drops it introduced this year, Tesla vehicles remain expensive, which is why General Motors GM CEO Mary Barra believed the traditional automaker has a shot at overtaking the EV king in sales volume by mid-decade as GM will be offering more EV models at lower prices. Tesla still doesn’t have lower-priced models, although Elon Musk spoke about an affordable EV on several occasions. GM did commit to spend as much as $50 billion to make that happen and it is aiming to sell as many as 1 million EVs in North America by 2025, which would place it next to Tesla’s projected volume. While Tesla is hoping the Cybertruck helps it rekindle its EV spark, it seems that electric pickups will play in important role as the EV revolution goes on.

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