Mizuho analysts downgraded EV makers Rivian (RIVN), Tesla (TSLA), and Nio Inc. (NIO) to Impartial rankings on slowing EV demand, even in Chinese markets. Autoblog Editor-In-Chief Greg Migliore weighs in on the rising reputation of Korean automakers and the place Rivian’s autos have room to run on this auto market.
“Rivian is nicely positioned for progress a couple of years down the highway. I feel what is hard for them is that they began out with the R1S and the R1T… that are fairly costly,” Migliore says. “They’re undoubtedly luxurious objects. They create that way of life form of strategy to well-heeled customers who wish to have a dialogue piece once they pull up wherever they is likely to be going.”
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Editor’s observe: This text was written by Luke Carberry Mogan.
Video Transcript
AKIKO FUJITA: Greg, I am curious the place the Korean carmakers– the place you suppose they’re positioned in all this. When you concentrate on what’s already in the marketplace, not essentially what’s about to come back to market, I imply, it appears like they’ve essentially the most worth. I imply, I am simply enthusiastic about simply what– the sort of automobiles I see on the highway out in California. It appears like when you’re searching for a good value level that is not, you already know, greater than 40/50, that is sort of a great place the place the Korean carmakers are competing in proper now.
GREG MIGILORE: That is an important level. I feel Hyundai and Kia each have a number of aggressive engaging EVs in the marketplace that you could possibly get proper now. The Kia EV6, it is enjoyable to drive. It has nice vary. It is received a number of Automobile of the 12 months awards.
Then, you look over at Hyundai. They usually have the IONIQ 5, which is a hatchback, sort of, like, Eighties virtually, like, Tron form of styling. After which, the Hyundai IONIQ 6, which is that this swoopy virtually, like, artwork deco coupe-styled 4 door, which, you already know, they’ve the identical powertrain.
In order that they each have nice vary. They’re enjoyable to drive. So I feel the Korean carmakers are very well-positioned. A little bit bit extra reasonable value factors.
Their new model of Hyundai Motor Co is Genesis. They have been round about 10 years. They’re moving into the EV area with issues just like the GX60.
Issues like that. The GV50, excuse me. And simply making an attempt to make a extra well-rounded portfolio.
JOSH LIPTON: And Greg, I am additionally to get your tackle Rivian, as a result of that was one other a type of names the workforce at Mizuho downgraded in the present day. You realize, you hear of us say, Greg, you already know, Rivian, sturdy model. However then, they’re going to additionally level out simply the R1, you already know, mannequin pricing is simply sort of powerful on this atmosphere. What are your ideas on that one?
GREG MIGILORE: So I feel Rivian is well-positioned for progress in a couple of years down the highway. I feel what’s tough for them is that they have began out with the R1S and the R1T. So that is the SUV and the truck, that are fairly costly.
They’re undoubtedly luxurious objects. They create that way of life form of strategy to, you already know, well-heeled customers who wish to have, you already know, a dialogue piece once they pull up wherever they is likely to be going. Now a few weeks in the past, they confirmed the R2 and the R3, that are decrease priced autos. Very engaging compelling vary.
We predict they will are available, once more, at a a lot decrease extra attainable value fee. You’ll be able to order one. They are a lots of bucks.
I feel it is a refundable deposit. However like with Lucid, like with Fisker, a wide range of startups, there’s all the time a level of uncertainty with Rivian. I feel among the many startups, they’re in all probability one of many higher ones that is positioned, although, from what we’re seeing.
