Automotive

Motor Morsels: Rivian, Volvo, Polestar, and Ford

Rivian stays high, Volvo slows down, Polestar makes cuts, and Ford can’t open the next door.
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Motor Morsels: Rivian, Volvo, Polestar, and Ford

🦌⏫🗡️Rivian is bucking the trends by keeping prices high for its electric pickup trucks and SUVs, even as competition in the market intensifies. Despite many rivals slashing prices and traditional automakers entering the EV space, Rivian says they intend to maintain their luxury price-tag by offering luxury features.

While some see this strategy as risky, Rivian remains confident in its ability to meet customer demand and differentiate itself from competitors, with plans to target the poors with more affordable vehicles in the future.

🐌⏳🙊Volvo announced a delay in the production of their first fully electric SUV, the EX90, sending their shares down 5%. The company now expects to begin production in the first half of 2024, but declined to speculate when the models are expected to reach dealer showrooms.

📉🚗🎬Another Swedish automaker, Polestar, has also revised their 2023 production guidance, citing delays in the production start of its Polestar 3 and a “challenging industry environment.” 

Not sure they’re going about it the right way…Cause the “industry environment” isn’t likely to be less “challenging” with their plans to cut jobs by 10%. 

🚪🤷‍♀️🔥⚡Get ready to place your orders for Ford's F-150 Lightning! …you may just have to wait a while for the door handles.

A source told Reuters on Wednesday that Ford is facing another snag due to supply shortage of door handles. It seems the automaker just can't catch a break, with plenty of set-backs to the model’s production timeline like that small, fiery mishap.

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