Rivian and Ford Announce Significant Developments in Automotive Investments
Rivian has unveiled its new AI computer chip, the Rivian Autonomy Processor, designed to enhance its autonomous driving features. The chip processes 5 billion pixels per second and will power the upcoming R2 SUV, set to compete with Tesla’s Model Y in 2026. Rivian’s Autonomy+ driver-assistance package will be offered at an upfront cost of $2,500 or $49.99 per month, making it significantly cheaper than Tesla’s comparable $8,000 system.
Meanwhile, Ford Motor Company is initiating a $19.5 billion shift from focusing exclusively on electric vehicles (EVs) to prioritizing hybrids and more affordable EVs. This includes plans to have 50% of its global volume be hybrids and EVs by 2030, up from just 17% this year. Ford is also investing $2 billion in repurposing a Kentucky manufacturing plant for battery energy storage systems to create a new revenue stream amid rising energy storage demands.
