Rivian Unveils Powerful New Motors and Upgraded R1 EVs

Rivian has updated its R1T pickup and R1S SUV with new motors and battery packs to improve performance and reduce manufacturing costs. The new configurations include a tri-motor and a more powerful quad-motor setup, with the latter now offering 1,025 horsepower. The company has also introduced a cheaper lithium iron phosphate battery pack and enhanced its self-driving system. These updates aim to make the vehicles more efficient and cost-effective, with the entry-level R1T starting at $69,900. Rivian expects these changes to help achieve modest gross profit by the end of the year, despite a temporary factory shutdown impacting Q2 earnings.