Tesla Bull Gary Black Explains Why Rivian Will Likely Be Biggest Beneficiary Of Cybertruck Delivery Launch – Tesla (NASDAQ:TSLA), Rivian Automotive (NASDAQ:RIVN)

Rivian R1T Sees Surge in Interest as Tesla’s Cybertruck Faces Delays

Tesla’s highly anticipated Cybertruck has been met with significant delays, and according to Tesla investor Gary Black, this delay could benefit Rivian Automotive Inc. Black, who is also the Managing Partner of Future Fund, believes that the prolonged wait time for the Cybertruck will drive customers to consider Rivian’s offering instead.

The Cybertruck, known for its stainless steel, futuristic design, has garnered immense interest since its unveiling. However, Tesla has struggled to meet the demand, with delivery timelines extending into the future. This delay presents an opportunity for Rivian, which is considered the closest competitor in the electric vehicle (EV) truck segment.

Black points out that for combustion engine truck drivers looking to transition to an EV, Rivian’s truck offers a more traditional design. This could make it a more appealing choice for those who prefer a familiar aesthetic. Moreover, Black shared an infographic from Google Trends, showing a surge in searches for the Rivian R1T on the day Tesla began delivering its Cybertrucks. While Ford’s F150 Lightning also saw increased interest, the R1T surpassed it in terms of search volume.

The Cybertruck’s pricing starts at $60,990, with a higher-end version, the Cyberbeast, priced at $99,990. However, the cheapest version of the vehicle will not be available until 2025. In contrast, the Rivian R1T starts at $73,000 and typically has a delivery time of four months or less.

Tesla CEO Elon Musk has acknowledged the immense demand for the Cybertruck, with over a million reservations already in place. However, he has cautioned that scaling production to meet this demand may take longer than expected. Musk estimates that Tesla will likely reach its production target of 0.25 million Cybertrucks per year in 2025, indicating that customers with reservations may have to wait until then to receive their vehicles.

Rivian, on the other hand, seems to be in a better position to fulfill customer orders more promptly. With its R1T EV truck available within a few months, it offers a viable alternative for customers who are eager to own an electric truck sooner rather than later.

As the demand for electric vehicles continues to grow, competition in the EV truck market is heating up. Rivian’s surge in interest, fueled by Tesla’s Cybertruck delays, highlights the importance of timely deliveries and meeting customer expectations in this rapidly evolving industry. While Tesla remains a dominant player in the EV market, Rivian’s ability to capitalize on the Cybertruck’s delay could help solidify its position as a formidable contender.