Amazon Lead $700 Million Investment into Electric Truck Company Rivian
How Does Rivian Compare to Tesla?
Tesla has raised $14.5 billion over the years and has been spending about $2.4 to $3.5 billion each year on construction of factories and other capital expenditures.
During Tesla’s Q4 2018 investor conference call a couple of weeks ago, Elon Musk said that Tesla’s pickup truck may be ready to be revealed this summer. The Rivian funding announcement will likely accelerate Tesla’s pickup truck and Model Y plans. The Model Y will be a small electric SUV that will share 75% of its parts with the Model 3.
Elon Musk has said the tooling for the new Model Y has been ordered and that production of the model Y will start in 2020.
Tesla plans to have a pilot Model Y line built at Gigafactory 1 by June 1, 2020 and ramp up production to about 2,000 units per week by September 2020.
The Model Y should have the option for a third row of seats.
There will be a high passenger capacity mini-bus based on the frame of the Model X late in 2020 or in 2021.
Thompson Reuters has Tesla financial data and projections.