Stella Li, Executive Vice President of BYD, said that the company has received an export order for 100,000 vehicles from its new factory in Brazil. The shipments will be split equally between Argentina and Mexico.
Investors focused their attention on Rivian’s R2 SUV mid-size, described by CEO RJ scaringe as a product that could make or break the company.
BYD Brazil to supply Argentina, Mexico
BYD is widely regarded as Tesla’s main Chinese competitor. It has received an export order of 100,000 vehicles from its Camacari plant in Brazil.
This order is evenly divided between Mexico and Argentina, with 50,000 cars going to Mexico.
BYD is utilizing Brazil as an export hub for the region as it ramps up production at its Camacari plant.
Rivian rallys after TD Cowen supportss R2 strategy
Itay Michai, TD Cowen’s analyst, upgraded Rivian from Hold to Buy and increased the price target from $17 to $20. He cited an attractive risk/reward profile after a 20% decline year-to date.
Analysis showed that the potential for scale was significant for this new platform. The full US demand is estimated at between 212,000 and 335,000 R2 units. This estimate far exceeds previous market expectations.
Rivian positions the R2 R2 mass market vehicle as their first truly mass-market car.
Wassym Benedsaid, Chief Software Officer at Tesla said: “We are the only two US companies that know how to make it work.
R2 Launch Package: Starting at $57,990. Deliveries will begin spring 2026.
In 2027, a lower-cost model, with a price of around $45,000 is anticipated.
Rivian’s R2 is a direct competitor to Tesla Model Y, which will sell nearly 365,000 units by 2025.
The market pressures, and the near-term drivers
Rivian is facing a difficult backdrop. It has reported a loss of $3.6 billion in 2025, alongside declining deliveries. The federal tax credit for EVs worth $7,500 also ended.
Ivan Drury is the director of Edmunds’ insights.
Rivian’s shares rose 3.20% on Monday to $15.34, a result of the R2 making its public debut from 13-18 March at SXSW.
BYD’s expansion into Latin America demonstrates the fierce competition in this market, and Rivian’s launch of R2 is a crucial step towards attracting mainstream customers.
Investors will pay close attention to the execution of production, price, and demand.
The following post EV race is heating up with BYD landing a 100K deal, and Rivian soaring on R2 could be updated as new information emerges
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