Categories
Brand Marketing on Social Media

Rivian (RIVN) drastically cuts costs as push for first profit ramps up [Video]

Rivian (RIVN) is learning from its past as it looks to turn its first profit. The cost of building its vehicles has “improved dramatically” as Rivian slashes costs on its path to profitability.

After establishing itself as a true luxury EV brand, Rivian is looking to control costs as it moves toward the next chapter.

Rivian delivered over 50,000 vehicles last year, more than doubling from 2022. The R1S was the fourth best-selling EV in the US through Q1 2024, behind only Tesla’s Model Y, Model 3, and the Ford Mustang Mach-E.

Meanwhile, Rivian delivered 13,588 vehicles in the first quarter, a slight decrease from the 13,972 handed over in Q4 2023.

Rivian expected deliveries to slall after announcing plans to shut down production at its Normal, IL plant last year. Rivians CEO and founder RJ Scaringe said during a recent fireside chat that the planned shutdown in April “introduced a dramatic cost reduction in material costs.”

Scaringe warned, “From an …

Watch/Read More
Categories
Brand Marketing on Social Media

Donald Trump attempted assassination: Bipartisan condemnations [Video]

Lawmakers from both parties are condemning political violence following a second apparent assassination attempt on former President Donald Trump. Meanwhile, the former president and his campaign are blaming rivals for the attack.In a social media interview Monday night, Trump recounted the moments surrounding the recent attempts on his life: One in Florida and the other in Pennsylvania."There's a lot of rhetoric going on," he said. "When the Democrats talk about a threat to democracy, it seems that both of these people were radical lefts."So far, the investigation in Pennsylvania has not uncovered the political leanings of the shooter, while the investigation in Florida has revealed that the suspect previously expressed support for both Democrats and Republicans.The Trump campaign, including Republican vice-presidential nominee JD Vance, claimed a "big difference" between conservatives and liberals in a high-stakes race for the White House."No one has tried to kill Kamala Harris in the last couple of months and two people now have tried to kill Donald Trump in the last couple of months," Vance said. "The left needs to tone down the rhetoric."In Washington, leaders from both sides of the aisle condemned the violence."In America, our democracy flows from the ballot box. Not from the barrel of a gun," Senate Minority Leader Mitch McConnell said."There is no place for violence in America. None. Zero. Never," President Joe Biden said at a HBCU conference Monday.Meanwhile, investigators are uncovering more details about the attack. Ryan Wesley Routh, 58, made his initial appearance in federal court on gun charges Monday.Investigators say Routh had camped outside of Trumps golf course for more than 12 hours but did not fire any shots or ever had Trump in his line of sight.Routh has a wide-ranging online footprint and previously voted for Trump but recently expressed outrage over Jan. 6 and the former president's views on international events.The Secret Service says Sundays golf outing was an off-the-record event, noting it still had the highest levels of protection as directed by President Biden, on Trump. The latest attempt on his life has renewed concerns over the challenges of protecting the Republican presidential nominee.Trump will be back on the campaign trail, hosting a town hall in Michigan Tuesday night.