

News
Rivian unveils R3 and R3X following launch of R2
Rivian unveiled two additional vehicles following the launch of the highly-anticipated R2, as it rolled out the R3 and R3X.
The R3 and R3X, which is the Performance configuration of the R3, came as an unexpected surprise for viewers as CEO RJ Scaringe explained the changes it had made for the R2 from the R1 platform. Nobody expected Rivian to roll out another vehicle and show off its high-end, performance-geared edition, as well.
Rivian R2 unveiling: Features, specs, price, release date revealed
The R3 is an even more compact version of the R2 and is slightly similar in looks to 1980s-era rally vehicles. Its small, compact design is coupled with a hatchback-style rear door that features multiple entry points for more cargo space, especially for long, outdoor items like surfboards and skis.
R2 is just the beginning. Say hello to R3. pic.twitter.com/zHaWUOE7vP
— Rivian (@Rivian) March 7, 2024
Rivian kept most of the introductory details of the R3 and R3X, like price, specific performance specifications, and availability, under wraps. The R2 is, without a doubt, taking priority for Rivian moving forward due to its low price and potential to bring the automaker toward a more stable financial situation.
Despite the lack of key specs, Rivian was sure to detail the inspiration for the R3, and it appears rally vehicles were exactly what the company was after when the vehicle came to fruition:
R3X is a rally-inspired crossover designed for whatever you throw at it.#RivianR3X pic.twitter.com/zBzKzi8Ilg
— Rivian (@Rivian) March 7, 2024
R3 is described by Rivian as “a midsize crossover that is tidy on dimensions but delivers big in terms of performance, off-road capability, passenger comfort, and storage.” The company expects the R3 to be priced “below the R2, making Rivian vehicles more accessible to more people.”
Configurations
Both the R2 and R3 vehicles will feature three configurations: a Single, Dual, and Tri-Motor variant. The Tri-Motor will enable 0-60 MPH in under three seconds.
R3 is our take on what a crossover can be — built on the same midsize platform as R2, but smaller and at a lower price point.#RivianR3 pic.twitter.com/V6nDXbF95F
— Rivian (@Rivian) March 7, 2024
Structural Battery Pack
Each R2 and R3 build will also feature a structural battery pack with an all-new 4695 battery cell. These new batteries are set to enable over 300 miles of range on a single charge in each car. They will be DC fast-charging capable with both the NACS and CCS inlets and will charge from 10 percent to 80 percent in less than 30 minutes.
Self-Driving
Rivian plans to utilize 11 cameras, five radars, and a new, more powerful computing platform to help it achieve autonomous driving capabilities.
Interestingly, Rivian is employing both cameras and radars for its self-driving quest, differing from Tesla, who switched to camera-only.
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News
Waymo temporarily halts service in San Francisco and LA amid protests
The suspensions came after several Waymo Jaguar I-Pace robotaxis were vandalized and set ablaze during the demonstrations.

Waymo, Alphabet’s autonomous vehicle subsidiary, has suspended its driverless taxi operations in parts of Los Angeles and San Francisco amid violent protests linked to U.S. Immigration and Customs Enforcement (ICE) raids in the state.
The suspensions came after several Waymo Jaguar I-Pace robotaxis were vandalized and set ablaze during the demonstrations.
Waymo Catches Strays Amid Anti-ICE Protests
Protests erupted in Los Angeles and San Francisco in response to the Trump administration’s immigration raids, which ultimately resulted in California Governor Gavin Newsom calling the White House’s deployment of National Guard troops unconstitutional.
Amidst the protests, images and videos emerged showing several Waymo robotaxis being defaced and destroyed. At least five Waymo robotaxis ended up being caught in the crossfire, and at least one vehicle ended up being burned to the ground.
The incident resulted in the Los Angeles Police Department advising people to avoid downtown areas due to toxic fumes from the robotaxis’ burning lithium-ion batteries. As noted in a KRON4 report, Waymo ultimately halted service in affected areas “out of an abundance of caution.”
Robotaxi Sentiments
The cost of the attacks is notable. Each Waymo robotaxi is valued between $150,000 and $200,000, per a 2024 Wall Street Journal report. Interestingly enough, this is not the first time that Waymo’s robotaxis ended up on the receiving end of angry protesters. On February 24, a Jaguar I-PACE robotaxi was set ablaze and vandalized by a crowd in San Francisco. Videos taken at the time showed a mob of people attacking the vehicle.
Despite the recent attacks on its robotaxis, Waymo has stated it has “no reason to believe” its vehicles were specifically targeted during the protests, as per a report from The Washington Post. A company spokesperson also noted that some of the Waymo robotaxis that were defaced and destroyed during the protests had been completing drop-offs near the protest zones.
Investor's Corner
xAI targets $5 billion debt offering to fuel company goals
Elon Musk’s xAI is targeting a $5B debt raise, led by Morgan Stanley, to scale its artificial intelligence efforts.

xAI’s $5 billion debt offering, marketed by Morgan Stanley, underscores Elon Musk’s ambitious plans to expand the artificial intelligence venture. The xAI package comprises bonds and two loans, highlighting the company’s strategic push to fuel its artificial intelligence development.
Last week, Morgan Stanley began pitching a floating-rate term loan B at 97 cents on the dollar with a variable interest rate of 700 basis points over the SOFR benchmark, one source said. A second option offers a fixed-rate loan and bonds at 12%, with terms contingent on investor appetite. This “best efforts” transaction, where the debt size hinges on demand, reflects cautious lending in an uncertain economic climate.
According to Reuters sources, Morgan Stanley will not guarantee the issue volume or commit its own capital in the xAI deal, marking a shift from past commitments. The change in approach stems from lessons learned during Musk’s 2022 X acquisition when Morgan Stanley and six other banks held $13 billion in debt for over two years.
Morgan Stanley and the six other banks backing Musk’s X acquisition could only dispose of that debt earlier this year. They capitalized on X’s improved operating performance over the previous two quarters as traffic on the platform increased engagement around the U.S. presidential elections. This time, Morgan Stanley’s prudent strategy mitigates similar risks.
Beyond debt, xAI is in talks to raise $20 billion in equity, potentially valuing the company between $120 billion and $200 billion, sources said. In April, Musk hinted at a significant valuation adjustment for xAI, stating he was looking to put a “proper value” on xAI during an investor call.
As xAI pursues this $5 billion debt offering, its financial strategy positions it to lead the AI revolution, blending innovation with market opportunity.
News
SpaceX to debut new Dragon capsule in Axiom Space launch
Ax-4’s launch marks the debut of SpaceX’s latest Crew Dragon and pushes Axiom closer to building its own space station.

Axiom Space’s Ax-4 mission targets the International Space Station (ISS) with a new SpaceX Crew Dragon capsule.
The Axiom team will launch a new SpaceX Dragon capsule atop a Falcon 9 rocket from NASA’s Kennedy Space Center in Florida on Wednesday at 8:00 a.m. EDT (1200 GMT). The Ax-4 mission launch was initially set for Tuesday, June 10, but was delayed by one day due to expected high winds.
As Axiom Space’s fourth crewed mission to the ISS, Ax-4 marks the debut of an updated SpaceX Crew Dragon capsule. “This is the first flight for this Dragon capsule, and it’s carrying an international crew—a perfect debut. We’ve upgraded storage, propulsion components, and the seat lash design for improved reliability and reuse,” said William Gerstenmaier, SpaceX’s vice president of build and flight reliability.
Axiom Space is a Houston-based private space infrastructure company. It has been launching private astronauts to the ISS for research and training since 2022, building expertise for its future station. With NASA planning to decommission the ISS by 2030, Axiom has laid the groundwork for the Axiom Station, the world’s first commercial space station. The company has already begun construction on its ISS replacement.
The Ax-4 mission’s research, spanning biological, life, and material sciences and Earth observation, will support this ambitious goal. Contributions from 31 countries underscore the mission’s global scope. The four-person crew will launch from Launch Complex 39A, embarking on a 14-day mission to conduct approximately 60 scientific studies.
“The AX-4 crew represents the very best of international collaboration, dedication, and human potential. Over the past 10 months, these astronauts have trained with focus and determination, each of them exceeding the required thresholds to ensure mission safety, scientific rigor, and operational excellence,” said Allen Flynt, Axiom Space’s chief of mission services.
The Ax-4 mission highlights Axiom’s commitment to advancing commercial space exploration. By leveraging SpaceX’s Dragon capsule and conducting diverse scientific experiments, Axiom is paving the way for its Axiom Station. This mission not only strengthens international collaborations but also positions Axiom as a leader in the evolving landscape of private space infrastructure.
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