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Home Cars

Rivian stock tumbles below IPO price as other EV makers race for market share

by Meghana Kandra
January 6, 2022 - Updated On January 7, 2022
in Cars, Electric Vehicles, Markets
Reading Time: 2 mins read
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Rivian stock skids as legacy automakers rev up EV targets
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Rivian stock umbles below the initial IPO price as other electric vehicle makers race to gain their presence in the market. Rivian fell as low as $75.13, which is lower than the initial public offering of $78. Competing EV makers, Tesla, Lordstown, and Fisker shares have also fallen down as a result of the market share changes. The values decrease with the pressure from expectations the U.S. Federal Reserve could raise interest sooner than previously thought.

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Rivian stock skids as legacy automakers rev up EV targets
Image credits- Yahoo Finance

Morgan Stanley analyst Adam Jonas cautioned in a note to clients, saying, “Rivian investors need to keep near-term expectations managed. Tesla has shown us the extremely difficult path to ramping EV manufacturing. You can’t have the reward without the pain.”

Rivian’s stock has slumped about 14% since the start of Wednesday, when Amazon, one of Rivian’s biggest investors, said it teamed up with carmaker Stellantis NV. The two companies will develop cars and trucks with Amazon software and deploy electric vans made by Stellantis on Amazon’s delivery network. Rivian signed a contract in 2019 to build 100,000 electric delivery vans for Amazon by 2025. But now the electric commercial vehicle business, a vital market for Rivian, is becoming more crowded. Rivian said on Thursday it expects Amazon to buy vehicles from many providers and that its partnership with Amazon is intact. The agreements between Stellantis and Amazon, the online retailer and cloud computing power, announced in conjunction with the CES technology conference, are wide-ranging, involving software and hardware.

Other automakers

General Motors electric commercial vehicle business, BrightDrop, has signed deals with Walmart and FedEx, while Ford Motor is expected to deliver its E-Transit cargo van to customers this year. Meanwhile, General Motors this week unveiled its electric Chevrolet Silverado pickup, while Ford said it is ramping up production of F-150 Lightning. Both pickups would compete with Rivian’s R1T at a time it is struggling to stick to delivery dates due to chip supply constraints. Guidehouse Insights analyst Sam Abuelsamid said, “(Rivian) investors are probably getting a little spooked by the legacy industry making a comeback,”

Rivian, which lost $1.2 billion in the third quarter, is expected to deliver cars to customers this year. Production at its second plant in Georgia, in which it has invested $5 billion, is likely to begin only by 2024. Chief market strategist at StockCharts.com, David Keller said, “It’s still sort of unproven in terms of investability of that as a stock versus some of the other names like Tesla, and arguably Ford,”

Credits- Reuters

 

Tags: EV makersMorgan StanleyRivianRivian stockStellantis
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Meghana Kandra

Meghana studied PGD in Journalism, open university. She has more than five years of experience in content writing, from creative content development to online journalism. Electric vehicle enthusiast, engineer, and feminist.

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Dodge Pauses Entry-Level Charger Daytona R/T for 2026 Amid Shifting Market and Tariff Pressures

by Samir Gautam
May 17, 2025
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The Dodge Charger Daytona R/T will not be part of the 2026 model year lineup, according to Dodge CEO Matt McAlear. While Dodge hasn’t completely ruled out the trim’s return in the future, the automaker has officially postponed its production for now. The reason? A combination of market shifts and uncertainties surrounding U.S. tariff policies. "Production of the Dodge Charger Daytona R/T is postponed for the 2026 model year as we continue to assess the effects of U.S. tariff policies,” McAlear said in a statement to Motor1. Instead, Dodge will sharpen its focus on high-performance offerings, like the Charger Daytona Scat Pack, and upcoming internal combustion alternatives. Scat Pack Takes Center Stage With the R/T trim off the table, the Daytona Scat Pack now becomes the sole all-electric Charger variant available for 2026. And it’s no slouch. Delivering 670 horsepower from its dual-motor setup, the Scat Pack is targeting mid-11-second quarter-mile times. However, the performance comes at the cost of range, 241 miles per the EPA estimate, a step down from the R/T’s 308 miles. That boost in performance also brings a steeper price tag. The Scat Pack will sit around $60,000 after factoring in the $7,500 federal EV tax credit. In contrast, the now-shelved R/T was expected to be a more accessible entry point to the electric muscle segment, slipping in under $50,000 with the same tax break. Lagging Sales, Overstuffed Lots Market data supports Dodge’s decision. Charger sales fell by a staggering 54 percent in 2024. The first-quarter sales of electric Chargers in 2025 totaled just 1,947 units, a mix of both R/T and Scat Pack trims. Meanwhile, Mopar Insiders reported that approximately 3,500 R/T units are still sitting unsold in dealer inventories. This lukewarm reception has highlighted a broader issue: despite the impressive specs, the brand’s electric offerings haven’t captured the hearts of traditional Dodge enthusiasts, many of whom remain loyal to internal combustion. The Sixpack Rises To address this, Dodge is introducing a new four-door variant, the Charger Sixpack, aimed at muscle fans not quite ready to embrace electrification. Powered by a twin-turbocharged 3.0-liter inline-six engine, the Sixpack will be available in both standard-output (420 hp) and high-output (550 hp) trims. Though exact pricing hasn’t been revealed, it's expected to slot in around the price point previously held by the R/T. The new platform, STLA Large, is designed to support both EVs and ICE models, giving Dodge flexibility to pivot as demand dictates. Looking Ahead While the Charger Daytona R/T may be gone for now, its future isn’t completely off the table. Dodge is keeping a close eye on market dynamics, government policies, and consumer behavior as it fine-tunes its approach. With the Scat Pack holding the electric torch and the Six Pack catering to combustion purists, Dodge’s strategy appears focused on streamlining its offerings while covering both sides of the propulsion spectrum. As more details about the 2026 Charger lineup emerge, muscle car fans and industry watchers alike will be paying close attention. The muscle car isn’t dead, it’s just adapting.

The Dodge Charger Daytona R/T will not be part of the 2026 model year lineup, according to Dodge CEO Matt McAlear. While Dodge hasn’t completely ruled out the...

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