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RJ Scaringe, founder and chief executive officer of Rivian Automotive Inc., unveiled the R1T electric left, and R1S electric sports utility vehicle (SUV) during a reveal event at the AutoMobility LA ahead of the Los Angeles Auto Show in Los Angeles, California
Tesla may unveil an electric pickup truck this summer, CEO Elon Musk said during the company's fourth-quarter conference call. In December, Musk talked extensively on Twitter about what he would like to include in a pickup truck design, including all-wheel drive with "crazy torque & suspension that dynamically adjusts for load."
Rivian is also building the R1S, an electric seven-passenger SUV. Rivian says the R1S will also have a range of over 400 miles
Jonas said Morgan Stanley has a "strong belief that all-electric vehicle architecture will need a truly 'clean sheet' approach" to take on Tesla, rather than " adapting existing legacy architecture. "
" We believe companies like Rivian will take elevated importance in investors' minds as EVs become the focus of OEM investment and strategy, "Jonas said.
– CNBC correspondent Paul Eisenstein and CNBC's
contributed to this report.