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Rivian R1T pickup truck will be a viable commercial fleet vehicle, analysts weigh in
Rivian has branded itself as a luxury electric vehicle-maker for outdoor enthusiasts, but auto industry analysts have recently seen another promising use for the company’s upcoming products: fleet vehicles.
The R1T has over 800 lb-ft of torque, nearly 1800 lbs of payload capacity, and the ability to tow around 11,000 lbs, making it a vehicle capable of serious work in nearly any industry currently utilizing trucks for business purposes in company fleets.
However, even Rivian’s largest battery pack, which boasts an impressive 400 miles of range, doesn’t quite meet the range expectations that truck customers expect from their gasoline and diesel-powered vehicles. This particular customer base, of course, isn’t Rivian’s immediate target as it first enters the market, but the Michigan-based car maker is already piquing broad interest in its vehicles, and industry professionals are taking note.
Not every potential Rivian truck customer will see limited mileage as a reason to choose diesel-power over battery-electric power, as predicted by some auto experts assessing the company’s market appeal. Companies whose travel needs are limited to short trips to job sites, for example, could put things like torque, load capacity, and fuel savings higher on the list of priorities than range for commuting. These are areas where Rivian’s R1T shines.
“EV pickups may best be suited for commercial fleets, such as those owned by energy companies,” Michelle Krebs, executive analyst for Autotrader, was quoted as saying by the Detroit Free Press (DFP). “Fleets operating in clearly defined areas, such as metro Detroit, could be ideal. Short distances and a good charging infrastructure might also make EV pickups practical for construction and mining companies.”
Pickup trucks make up the largest part of the vehicle market in the United States, accounting for nearly 3 million sales last year, meaning that a startup like Rivian has a lot to gain if it’s able to tap into the consumer base in a meaningful way. Amazon and Ford appear to have already seen the potential in Rivian’s electric skateboard platform via their combined $1.2 billion dollars investment in the company. Jeff Bezos, CEO of Amazon, recently commented about Rivian’s mission and voiced his support for the company.
“As with most of our major investments, and acquisitions, we’re always looking for mission-driven entrepreneurs — missionaries instead of mercenaries. And the guy who leads the company, a guy named R.J., is one of the most missionary entrepreneurs I’ve ever met,” Bezos said, referring to Rivian’s CEO R.J. Scaringe.
These kinds of positive assessments for all-electric trucks in the auto market would also carry over into Tesla’s future prospects as well for its truck. Admittedly, details surrounding the Blade Runner-inspired vehicle are sparse; however, CEO Elon Musk has mentioned possible stats that would offer incredible worksite capabilities. As teased, the Tesla Truck will have 400-500 miles of range per charge, dual motor AWD, a 240-volt connection for heavy-duty tools, and up to 300,000 pounds of towing capacity. The unveiling is said to take place later this year.
Both of Rivian’s vehicles – the R1T truck and the R1S SUV – are currently open for pre-order via the company’s website. Production and deliveries are anticipated to begin in 2020.
Elon Musk
SpaceX issues statement on Starship V3 Booster 18 anomaly
The incident unfolded during gas-system pressure testing at the company’s Massey facility in Starbase, Texas.
SpaceX has issued an initial statement about Starship Booster 18’s anomaly early Friday. The incident unfolded during gas-system pressure testing at the company’s Massey facility in Starbase, Texas.
SpaceX’s initial comment
As per SpaceX in a post on its official account on social media platform X, Booster 18 was undergoing gas system pressure tests when the anomaly happened. Despite the nature of the incident, the company emphasized that no propellant was loaded, no engines were installed, and personnel were kept at a safe distance from the booster, resulting in zero injuries.
“Booster 18 suffered an anomaly during gas system pressure testing that we were conducting in advance of structural proof testing. No propellant was on the vehicle, and engines were not yet installed. The teams need time to investigate before we are confident of the cause. No one was injured as we maintain a safe distance for personnel during this type of testing. The site remains clear and we are working plans to safely reenter the site,” SpaceX wrote in its post on X.
Incident and aftermath
Livestream footage from LabPadre showed Booster 18’s lower half crumpling around the liquid oxygen tank area at approximately 4:04 a.m. CT. Subsequent images posted by on-site observers revealed extensive deformation across the booster’s lower structure. Needless to say, spaceflight observers have noted that Booster 18 would likely be a complete loss due to its anomaly.
Booster 18 had rolled out only a day earlier and was one of the first vehicles in the Starship V3 program. The V3 series incorporates structural reinforcements and reliability upgrades intended to prepare Starship for rapid-reuse testing and eventual tower-catch operations. Elon Musk has been optimistic about Starship V3, previously noting on X that the spacecraft might be able to complete initial missions to Mars.
Investor's Corner
Tesla analyst maintains $500 PT, says FSD drives better than humans now
The team also met with Tesla leaders for more than an hour to discuss autonomy, chip development, and upcoming deployment plans.
Tesla (NASDAQ:TSLA) received fresh support from Piper Sandler this week after analysts toured the Fremont Factory and tested the company’s latest Full Self-Driving software. The firm reaffirmed its $500 price target, stating that FSD V14 delivered a notably smooth robotaxi demonstration and may already perform at levels comparable to, if not better than, average human drivers.
The team also met with Tesla leaders for more than an hour to discuss autonomy, chip development, and upcoming deployment plans.
Analysts highlight autonomy progress
During more than 75 minutes of focused discussions, analysts reportedly focused on FSD v14’s updates. Piper Sandler’s team pointed to meaningful strides in perception, object handling, and overall ride smoothness during the robotaxi demo.
The visit also included discussions on updates to Tesla’s in-house chip initiatives, its Optimus program, and the growth of the company’s battery storage business. Analysts noted that Tesla continues refining cost structures and capital expenditure expectations, which are key elements in future margin recovery, as noted in a Yahoo Finance report.
Analyst Alexander Potter noted that “we think FSD is a truly impressive product that is (probably) already better at driving than the average American.” This conclusion was strengthened by what he described as a “flawless robotaxi ride to the hotel.”
Street targets diverge on TSLA
While Piper Sandler stands by its $500 target, it is not the highest estimate on the Street. Wedbush, for one, has a $600 per share price target for TSLA stock.
Other institutions have also weighed in on TSLA stock as of late. HSBC reiterated a Reduce rating with a $131 target, citing a gap between earnings fundamentals and the company’s market value. By contrast, TD Cowen maintained a Buy rating and a $509 target, pointing to strong autonomous driving demonstrations in Austin and the pace of software-driven improvements.
Stifel analysts also lifted their price target for Tesla to $508 per share over the company’s ongoing robotaxi and FSD programs.
Elon Musk
SpaceX Starship Version 3 booster crumples in early testing
Photos of the incident’s aftermath suggest that Booster 18 will likely be retired.
SpaceX’s new Starship first-stage booster, Booster 18, suffered major damage early Friday during its first round of testing in Starbase, Texas, just one day after rolling out of the factory.
Based on videos of the incident, the lower section of the rocket booster appeared to crumple during a pressurization test. Photos of the incident’s aftermath suggest that Booster 18 will likely be retired.
Booster test failure
SpaceX began structural and propellant-system verification tests on Booster 18 Thursday night at the Massey’s Test Site, only a few miles from Starbase’s production facilities, as noted in an Ars Technica report. At 4:04 a.m. CT on Friday, a livestream from LabPadre Space captured the booster’s lower half experiencing a sudden destructive event around its liquid oxygen tank section. Post-incident images, shared on X by @StarshipGazer, showed notable deformation in the booster’s lower structure.
Neither SpaceX nor Elon Musk had commented as of Friday morning, but the vehicle’s condition suggests it is likely a complete loss. This is quite unfortunate, as Booster 18 is already part of the Starship V3 program, which includes design fixes and upgrades intended to improve reliability. While SpaceX maintains a rather rapid Starship production line in Starbase, Booster 18 was generally expected to validate the improvements implemented in the V3 program.
Tight deadlines
SpaceX needs Starship boosters and upper stages to begin demonstrating rapid reuse, tower catches, and early operational Starlink missions over the next two years. More critically, NASA’s Artemis program depends on an on-orbit refueling test in the second half of 2026, a requirement for the vehicle’s expected crewed lunar landing around 2028.
While SpaceX is known for diagnosing failures quickly and returning to testing at unmatched speed, losing the newest-generation booster at the very start of its campaign highlights the immense challenge involved in scaling Starship into a reliable, high-cadence launch system. SpaceX, however, is known for getting things done quickly, so it would not be a surprise if the company manages to figure out what happened to Booster 18 in the near future.
SpaceX issues statement on Starship V3 Booster 18 anomaly
Tesla analyst maintains $500 PT, says FSD drives better than humans now
