Rivian has confirmed that their new R1T pickup will have 314 miles (approximately 505 kilometers) on a single charge, while the R1S can go 316 miles on a full battery.
This comes off a very busy few weeks for Rivian in which they announced that they would be going public.
Uber and Yandex will be spinning off their self-driving car subsidiary into its own entity – MLU BV.
MLU BV will have $150 million in new capital from Yandex, including $100 million in equity and $50 million as a convertible loan.
In connection with the deal, Yandex will hold 61.7% of MLU and Uber will own 33.5%. Bloomberg reported in June that Yandex had been looking to buy all of Uber’s initial 38% stake as an alternative to taking the taxi business public. Uber merged its Russian operations with Moscow-based Yandex in 2017.
Tesla Cybertruck orders in China.
Tesla is now officially taking Cybertruck orders in China. You can head to the Tesla website to reserve your Cybertruck.
The Cybertruck has such a unique design I’m sure there will be a lot of upper class Chinese who would love to be driving around in such a car. Really makes a statement.
Waymo at present has a private valuation that is twice as high as Tesla.
How can this be?
Margins! Tesla is focused on the full production of the car where Waymo is focused purely on the underlying technology with self driving cars. Thus, Waymo will have a Gross Margin that is extremely high in comparison to Tesla.
Eric Schmidt talked about this a lot. How Google and its products always wanted to be focused on providing the technology sub stack instead of the full product as it keeps margins at a high level and thus maximising value.
Tesla is a very interesting beast! It looks and feels like a car company, but really it’s not!
Here is a link to an interesting article about Tesla not being a hypergrowth company.