Tesla Rival Rivian's R1T Test EV Spotted Near Hyundai's South Korean R&D Facility
Portfolio Pulse from Benzinga Neuro
Rivian Automotive's (NASDAQ:RIVN) R1T electric vehicle was spotted near Hyundai's research and development facility in South Korea, sparking speculation about Hyundai's plans to develop its own electric truck. This follows Hyundai's release of its next-generation EV platform in June, which aims to support 13 new electric vehicle models. While Hyundai's plans remain unclear, Kia has already announced its intention to add two electric trucks to its lineup by 2027.
August 12, 2023 | 12:08 pm
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Rivian's R1T electric vehicle was spotted near Hyundai's R&D facility, sparking speculation about Hyundai's plans to develop its own electric truck.
The news of Rivian's R1T being spotted near Hyundai's R&D facility could indicate potential interest from Hyundai in Rivian's technology. However, it's unclear at this point what impact this will have on Rivian's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 100
NEUTRAL IMPACT
Tesla, as a competitor to Rivian, could potentially be impacted by Hyundai's interest in Rivian's electric truck technology.
As a competitor to Rivian, Tesla could potentially be impacted by Hyundai's interest in Rivian's electric truck technology. However, the impact on Tesla's stock price in the short term is uncertain.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50