Rivian just surprise-announced an all-electric hatchback called the R3 — giving the company a big Apple-esque “one more thing” announcement at the event that was ostensibly supposed to be all about its new R2 SUV.
And it represents an entirely new market for Rivian to try and play in of smaller EVs — crucially, one that Tesla currently dominates.
While we knew Rivian was working on an “R3,” I’m not sure many people expected it to look quite like this.
Unfortunately, the company didn’t immediately share… any real details whatsoever about when the R3 will be available, or how much it will cost.
The R3 is a near-term fix for that, apparently, as Rivian’s stock price soared after the surprise reveal.
Tesla’s once-leading solar business is in decline, according to the latest figures from its fourth-quarter 2023 earnings report.
Crucially, the automaker revealed that its solar deployments cratered 36% to a total of 223 megawatts (MW) last year, down from 348 MW in 2022.
In Q4 2023, Tesla’s solar deployments dropped 59% year-over-year to 41 MW — down from 100 MW in Q4 2022.
However, Tesla’s energy generation and storage business is comparatively booming (surprise, surprise).
The company said its 2023 energy storage deployments — which include Powerwall home batteries and utility-scale Megapacks, topped 14,724 megawatt hours (MWh), up 125% from the year earlier.
Once again, Etsy’s layoffs come as no surprise Junkification and fierce competition paint a tough path aheadRemember when we wrote that Spotify’s latest layoffs make sense?
Well, we feel the same about Etsy’s announcement that it would lay off 11% of its workforce.
This is not us being callous with employees affected by these layoffs, or making excuses for what led the NASDAQ-listed marketplace to that point and what could perhaps have been prevented.
We are just saying that this isn’t much of a surprise.
But more than quantitative, Etsy’s challenge is qualitative.
The leadership change at Toyota is a major shift for the company, and signals the beginning of a new era for the automaker. Akio Toyoda has been at the helm…
