Yahoo Finance EV Slowdown Might Be Undebatable But EV Innovation Is Unstoppable
At the beginning of June, Rivian Automotive Inc (NASDAQ: RIVN) announced the redesign of its its all-electric R1 pickup and SUV models. By using Nvidia Corporation (NASDAQ: NVDA) chips, Rivian improved the range, performance and computing power of its vehicles. Rivian already made history by bringing the world’s first all-electric pickup to the road, beating even the EV king, Tesla Inc (NASDAQ: TSLA) whose long-anticipated Cybertruck came to life a while after. But, the EV concept continues to evolve as the automotive industry continues its all-electric transformation and EV makers need to evolve along with it.
Rivian revamped its R1S and R1T with the help of Nvidia.
Everyone, especially traditional automakers like General Motors, (NYSE: GM), Ford Motor (NYSE: F) and Toyota Motor (NYSE: TM), know very well that unlike internal combustion engine vehicles, EVs are more about software than hardware. But, Rivian even changed more than half the hardware components, although the 2025 models do not outwardly look too different than the current ones. Besides pushing the technical boundaries of its second-generation products further,Rivian reengineered their batteries and electrical architectures, known as the brains of a vehicle, while adding driver-assistant features through the new system that uses dual Nvidia DRIVE Orin processors. Like Tesla, Rivian also plans to launch a less-expensive EV, with the less expensive variation of R2 models expected to start at about $45,000 upon their launch in the first half of 2026.
Meanwhile, electric pickups are in for a treat this summer with the launch of the Alpha version of the world’s first solar-powered tonneau cover SOLIS. Made by Worksport® Ltd. (NASDAQ: WKSP),together with a COR portable battery system, the power duo promises to extend the range of electric pickups and much more, considering the capability to offer off-grid power-on-the-go. Worksport just reported its best sales month ever, achieving $739,417 in May, which alone is 332% higher to the monthly average from the first quarter, whose overall sales of $512,637 was also surpassed. Worksport reported its sales surged due to its Made-in-America portfolio whose scaled production kicked off in January. Worksport also recently received the ‘Innovator of the Year' award in Western New York as its products promise to revolutionize the market, which is expected to translate to significant market share.
Difficult times often bring out the greatest inventions.
As the saying goes, one can cut all the flowers one cannot stop Spring from coming. Same can be said for innovation that happens even during the most challenging times as this is when it is most needed. The EV slowdown might in the air all year long, but Rivian getting the power of Nvidia and Worksport bringing in solar power to the table are examples that show the EV evolution is not showing any signs of stopping, as even unfavorable macroeconomic conditions cannot stop innovation.
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This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.
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