Day: November 29, 2021

Car & Auto

RIVN Stock: Rivian’s the Latest ‘If You Build the EV, Will They Come?’ Story

Rivian Automotive (NASDAQ:RIVN) stock has already had a wild ride, as it starts mass production of an electric pick-up truck.

Source: Miro Vrlik Photography / Shutterstock.com

Shares opened at $78 on Nov. 10. This brought Rivian $12 billion in cash, Their value then took off in the first week of trading, peaking at $178 each on Nov. 16.

The shares fell back to earth when the company announced it was no longer working with Ford Motor (NYSE:F), which still owns 12% of the stock. Rivian stock closed last week at about $112, a fall of more than 30%. But Rivian still has a market capitalization nearing $100 billion.

The loser was Ford, a century-old auto giant. It’s now worth just $78.9 billion as it ramps up its own electric vehicle efforts. The fall in Rivian’s price also cut $3.6 billion off the value of Ford’s Rivian

Car & Auto

Nissan to invest $17.6 billion to ramp up electric vehicle offering

By Betty C. Morrow 8 months ago

An electric concept car from Nissan is displayed at the company’s showroom in Yokohama, Japan, on November 29, 2021.

KAZUHIRO NOGI | AFP | Getty Images

Japanese automotive giant Nissan is to invest 2 trillion yen (around $17.6 billion) over the next five years to speed up the electrification of its product line.

Nissan said on Monday it would aim to roll out 23 new electrified models by 2030, 15 of which will be fully electric.

It is targeting a 50% electrification mix for its Nissan and Infiniti brands by the end of the decade.

On the battery front, the firm is planning to introduce all-solid-state batteries, or ASSB, to the market by 2028. A pilot ASSB facility in the Japanese city of Yokohama will be readied “as early as fiscal year 2024”, Nissan said.

In a speech outlining the plans, Nissan CEO Makoto Uchida said his company was focusing

Car & Auto

Porsche Studio stores are coming to the U.S.

By Betty C. Morrow 8 months ago

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Porsche plans to open a series of showrooms in the U.S. that the company is calling “Studios”. These stores will be owned by Porsche, not dealers, and as such will allow customers to dip a toe into the Porsche experience in a low- or no-pressure environment.

Porsche Cars North America CEO Kjell Gruner likened the concept to an Apple Store while talking with Automotive News. Instead of sales staff, customers will interact with Porsche Pros who are knowledgeable about the cars but don’t try to give you the hard sell.

Based on photos from Porsche Studios in other countries, it looks to be something more than a Tesla store but less than full-blown Porsche Experience Centers, which have their own tracks and restaurants. Customers will be able to check out the product, learn about Porsche heritage, and cop some branded merch. Of course,