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<ul class="summary-list"><li>Donald Trump's tariff proposals and pushback on EVs could have a significant impact on automakers.</li><li>Rivian CEO RJ Scaringe said during an earnings call the company has been bracing for tariffs.</li></ul>EV company <a target="_blank" class="" href="https://www.businessinsider.com/what-is-rivian-ev-startup-amazon-backed-tesla-challenger-2021-2">Rivian</a> says it's already bracing for the impact that the increased tariffs proposed by President-elect Donald Trump would have on its supply chain.<a target="_blank" class="" href="https://www.businessinsider.com/rivian-ceo-rj-scaringe-explains-slowdown-ev-growth-tesla-variety-2024-7">Rivian CEO RJ Scaringe</a> said that to prepare for potential <a target="_blank" class="" href="https://www.businessinsider.com/global-reaction-donald-trump-election-victory-tariffs-trade-disputes-2024-11">tariffs Trump has proposed</a> on foreign goods, the company has been deliberate about materials sourcing for its upcoming lower-cost <a target="_blank" class="" href="https://www.businessinsider.com/rivian-r2-suv-release-price-range-specs-photos-2024-3">SUV, the R2</a>."The R2 sourcing process is something we've looked at very strategically and certainly have contemplated even prior to the election, just what the impact would be, should the overall approach to tariffs change," Scaringe during the company's Q3 earnings call on Thursday — a day after the election was called for Trump."So a lot of our focus has been on sourcing suppliers that are not going to be subject to large tariffs."The CEO said Rivian also structured its partnerships with overseas suppliers that could be subject to tariffs so that the company is "not carrying much of the risk." He did not specify where the suppliers are based.Still, analysts say uncertainty surrounding the incoming administration could hurt already <a target="_blank" class="" href="https://www.businessinsider.com/electric-vehicle-misconceptions-about-the-ev-transition-market-sales-2024-5">slowing demand for EVs</a>.The stocks of Lucid and Rivian — smaller auto companies dedicated to EVs — saw a brief jolt. Rivian's stock dropped as low as 9.7% on Wednesday before recovering some of the losses by the next day.On the campaign trail, the president-elect has also targeted the Biden administration's <a target="_blank" class="" href="https://www.businessinsider.com/inflation-reduction-act-how-it-reduces-price-growth-deficit-pressures-2022-8">Inflation Reduction Act,</a> which includes a <a target="_blank" class="" href="https://www.businessinsider.com/what-trump-presidential-victory-could-mean-for-evs-tesla-musk-2024-7">$7,500 tax credit</a> for SUV and pickup truck EVs that cost $80,000 or less.Claire McDonough, Rivian's chief financial officer, said during the call that Rivian customers who qualify for the tax credit are largely those who lease. The CFO said the "lease penetration," or percentage of total cars sold through leases, was 42%.Rivian's R1S and R1T pickup trucks have a base price of $75,900 and $69,900 respectively, while the company plans to sell the R2 for $45,000."Given the price point of our vehicles and the overall income levels, most of our customers don't qualify on a financed or cash purchase," she said.RBC Capital Markets auto analyst Tom Narayan told Business Insider that he's concerned Rivian could lose the tax credit incentive under the new administration.A Rivian spokesperson declined to comment.Scaringe said during the call that Rivian also is on the lookout for potential policy impacts on the "upstream supply chain," which includes raw materials. On top of the uncertainty that comes with the second Trump administration, Rivian continues to face hurdles toward profitability — a challenge many new automakers face, with the exception of <a target="_blank" class="" href="https://www.businessinsider.com/tesla-stock-tsla-earnings-call-report-live-updates-2024-10">Tesla</a>.Rivian reported a negative gross profit of $392 million in the third quarter compared to a negative gross profit of $477 million for the same period of last year.Total Q3 revenue was down 35% from last year, to $874 million, driven by the delivery of 10,018 vehicles, the company reported. Regulatory credits, or credits automakers receive from the government for producing EVs, accounted for $8 million of the total revenue for Q3 2024.Scaringe said he was optimistic about Rivian's path to profitability, noting an expected 20% reduction in material costs to produce Rivian's pickup truck, the R1, between Q1 and Q4 this year."As we look forward, we're excited to work with the new administration," Scaringe said in an interview with CNBC before the earnings call, "but really our focus is making sure the vehicles really can help customers make the switch from internal combustion to electrification."

Rivian is shoring up sourcing for its R2 affordable SUV with Trump's proposed tariffs in mind, CEO says

<ul class="summary-list"><li>Ford said Thursday it's delaying the release of new three-row EVs by two years.</li><li>It's not the first time the auto giant has hit the brakes on electric vehicles.</li></ul>Ford <a target="_blank" href="https://media.ford.com/content/fordmedia/fna/us/en/news/2024/04/04/ford-updates-timing-for-next-gen-evs--readies-manufacturing-plan.html">said Thursday</a> it'll push back the release of its upcoming three-row electric vehicles by two years — from 2025 to 2027.At the same time, the company said it is working on expanding its hybrid offerings, with more models expected across its lineup in North America by the end of the decade.Ford's already-established hybrids have become something of a saving grace for the company <a target="_blank" href="https://www.businessinsider.com/ford-cuts-production-of-f150-lightning-cybertruck-rival-ev-demand-2023-12">as EV demand softens.</a> The company has pulled back from some bigger EV ambitions while placing more emphasis on the hybrids that customers are clamoring for.In the end, whether a customer drives off with an EV or a hybrid, "They are buying a Ford," product development exec Jim Baumbick <a target="_blank" href="https://www.businessinsider.com/ford-hybrid-battle-against-tesla-ev-maverick-pickup-2024-3">previously told Business Insider</a>. "and what excites us is bringing new customers to the brand."Ford said the EV delays, announced Thursday, would give it additional time to incorporate emerging battery technology."As the No. 2 EV brand in the US for the past two years, we are committed to scaling a profitable EV business," Ford president and CEO Jim Farley said in a statement. He added the company's "next-generation EVs will be new from the ground up and fully software enabled, with ever-improving digital experiences."Despite the latest delays, the company said it is still ramping up EV manufacturing across other facilities.Ford is transforming its Oakville Assembly plant in Ontario — where the three-row electric vehicles will be produced — from a gas facility to an electric one beginning in the second quarter of this year.A still-in-the-works BlueOval City campus in Tennessee will produce the sheet metal stampings for its new electric truck, which will deliver in 2026, Ford said.Ford is also expanding an Ohio plant to make room for EV production in 2025, the company said, while a <a target="_blank" href="https://www.businessinsider.com/coolest-skunk-works-2013-2">skunkworks</a> team in California is developing new EV platforms.It's not the first time Ford has <a target="_blank" href="https://www.businessinsider.com/ford-delays-ev-manufacturing-investment-cars-too-expensive-2023-10">hit the brakes on EVs</a>. In October, the auto giant paused a $12 billion investment in the sector, saying electric vehicles were too expensive and that demand was slowing — as fellow automakers echoed its cautious tone.Meanwhile, sales growth for hybrid cars is outpacing electric vehicles this year, <a target="_blank" href="https://www.businessinsider.com/hybrid-electric-cars-trucks-evs-transport-ford-maverick-toyota-2024-3">Business Insider previously reported</a>, partly due to high prices and driver worries about charging electric cars.

Ford is delaying its new electric SUV in favor of more hybrids

<ul class="summary-list"><li>Tesla is going into the van business with its Robovan.</li><li>Elon Musk unveiled a prototype at Tesla's "We, Robot" event on Thursday.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla</a> has announced a new addition to its fleet of sedans and <a target="_blank" class="" href="https://www.businessinsider.com/cybertruck">Cybertrucks</a> — the <a target="_blank" class="" href="https://www.businessinsider.com/tesla-robotaxi-event-cybercab-elon-musk-2024-10">Robovan</a>.Tesla CEO <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> unveiled the Robovan at the company's "We, Robot" event, which saw the EV giant showcase its latest autonomous offerings.Besides the Robovan, Musk also touted Tesla's upcoming vehicle, the <a target="_blank" class="" href="https://www.businessinsider.com/tesla-robotaxi-analyst-predictions-uber-lyft-waymo-competition-2024-10">Robotaxi</a>, or Cybercab, and the company's <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-humanoid-robot-optimus-becoming-mans-best-friend-2024-6">Optimus</a> robots.The Robovan's reveal came as a surprise, considering how most people were only expecting to see the Robotaxi's debut."What happens if you need a vehicle that's bigger than a Model Y?" Musk said on Thursday evening before a Robovan prototype rolled up in front of the stage.Passengers then began disembarking from the vehicle, which had doors in its mid-segment — not unlike a train.The Robovan prototype's interiors were white. Passengers were seated in rows of seats facing one another. Television screens could be seen at the front and back of the vehicle."We want to change the look of the roads. The future should look like the future," Musk said of the Robovan's design.Musk said the Robovan is meant for high-density usage, such as ferrying sports teams. During the presentation, he did not mention the Robovan's price or release date."This can carry up to 20 people and can also transport goods," Musk said on Thursday.<div type="image" title="The interior of Tesla's Robovan prototype." height="1327" width="2574" msid="114141128" hostid="261" sizebytes="91340"></div>This isn't the first time Musk has talked about making a van before.Musk published a <a target="_blank" class="" href="https://www.tesla.com/master-plan-part-deux">blog post</a> titled "Master Plan, Part Deux" in July 2016, in which he said that the EV industry needed to go beyond producing sedans and SUVs."In addition to consumer vehicles, there are two other types of electric vehicle needed: heavy-duty trucks and high passenger-density urban transport," Musk wrote then."Both are in the early stages of development at Tesla and should be ready for unveiling next year," he added.In a <a target="_blank" class="" href="https://www.tesla.com/master-plan-part-3">follow-up post</a> that was published in April 2023, titled "Master Plan Part 3," Tesla again teased the prospect of making a van.Specifically, the plan included a table of vehicle types along with their Tesla-made equivalents. Notably, the term "TBD" was listed for two categories — "Commercial/Passenger Vans" and "Bus."To be sure, Musk isn't the only one looking to cash in on mass autonomous transport.In 2021, a Chinese autonomous driving company named WeRide unveiled its own self-driving cargo van, also called the "Robovan.""It's an autonomous driving vehicle. If you put a seat there it can serve as a robotaxi car. If you put a cabinet there it is really a logistics car," WeRide CEO and founder Tony Han told CNBC in 2021.In May, WeRide said it had obtained a license to conduct road tests for the vehicle in Guangzhou, China.

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