Rivian's EV Innovations: Pre-orders, Losses, and Surging Shares

Rivian's R2 SUV has garnered over 68,000 reservations in less than 24 hours, hinting at strong demand for innovative EVs not associated with controversial figures like Elon Musk. The $100 deposit for a reservation doesn't obligate customers to purchase the vehicle, and the company's recent unveiling of the R3 and R3X models aims to build excitement around its brand amid layoffs and factory cuts. This impressive showing suggests a potential appetite for an EV maker not tied to traditional auto companies or polarizing figures, as the industry seeks to grow and excite people about driving electric vehicles amidst climate change concerns.