Dodge and Rivian, Can They Succeed With Their New EVs Amidst a Market Slowdown?

The Japanese automaker has never been too keen on EV adoption and curiously, it has worked out great for them until now. In fact, 2023 was a landmark record year for both Toyota and Lexus, with the company's subsidiaries posting sales of more than 11.23 million units. However, EVs had little to do with the success even though they jumped over 325% year-over-year because they represented just 0.92% of deliveries. Some would say it's a shameful performance, while others would say they're geniuses – it all depends on your point of view and your willingness to interpret things according to your current needs. Everyone is entitled to an opinion, frankly.

Now, I made this little detour to make a point – if you're not Tesla, hard times are coming for your EV division. In fact, OEM manufacturers can't seem to grasp the concept of change to the novel EV lifestyle and are not increasingly reliant on the public's resistance to zero-emission vehicle adoption or their lobbying to convince the governments of the world that Trump was right and there's no global warming in sight – despite some parts of the globe announcing the warmest winter on record! Yep, meteorology is completely different from politics, and I wonder how they are going to wrap the fossil-burning ribbon around another summer of disastrous hurricane seasons, disappearing species, and massive land fires. Anyway, I digress.

So, this week has been filled with two major announcements coming from America's automotive industry. Everything else must take a back burner, including other important EV launches like the 2025 Hyundai Ioniq 5, limited-edition Karma Gyesera, and others. The first to drop the bomb under the red carpet's spotlight was one of Stellantis' most beloved brands – Dodge. I am not sure how many Mopar fans will be left reeling for Dodge after this introduction, but the company embarked on a new ear of 'Dodge muscle' with the announcement of the 2024 Charger Daytona R/T and Scat Pack, plus the 2025 Charger Sixpack with standard and high output.

The surprise reveal was Dodge's decision to keep the four-door sedan format alive starting from early 2025, while the first-arriving 2024 Daytonas revived the iconic nameplate for a charge at the novel EV lifestyle. Many will lament or hate Dodge for ditching the Hemi V8, but I feel that was the right thing to do because we really need to move forward and innovate in a way that saves our planet for the coming generations. On the other hand, I am not entirely sure the idea is well executed because Dodge has various layers of performance enhancements that come free only for the 2024MY and will incur a charge to reach the total amount of 670 electric ponies after that. Then, what will happen whe it's time to bring out the big SRT guns?

Also, there's a bigger underlying issue – the Charger Daytona is not only massive but will make the 2024 Ford Mustang feel puny. Instead, it's also much heavier than anyone imagined because it's almost the same weight as a fully optioned three-row EV crossover SUV! That will be a problem for efficiency and handling. Can you imagine trying to manhandle a nearly three-ton behemoth during a canyon carving session? Sure, some will say that Dodge only wanted to ensure it could rule the local quarter-mile dragstrip, but even the 11.5s figure (achieved under ideal conditions) isn't too spectacular.

There is also one major question – how is Dodge handling the MSRPS for Daytona? The rumor mill bets it won't be cheap, so that's another thing going against it, along with the perceived EV adoption slowdown and the backlash for swapping the beloved Hemi V8 with zippy electrons. On the other hand, I think the Charger Sixpack has a great career ahead of it – because it will be much lighter and also ready for lots of tuning and skirmishes against the Mustang Dark Horse or inline-six gurus like the BMW M3 and M4. Alas, it's still burning dead dinosaurs, so that won't be great for the planet and our successors.

Moving on to the other massive announcement this week, Rivian also dropped the coolness bomb in the middle of its Laguna Beach, California presentation because the R2 series doesn't consist of a mid-size SUV and a pickup truck like it's the case with the bigger R1S and R1T. Instead, there's just an R2 SUV – at least for now – looking exactly like you would imagine an R1S with just five seats. That's not necessarily a bad thing because Rivian already has loads of fans who appreciate the quirky styling and it will help it achieve economies of scale and speed up the introduction in production of the smaller and more affordable R2 at its current plant in Normal, Illinois. However, the big surprise came in the form of the smaller yet mid-size platform-based R3 series, which includes not only the cheaper R3 crossover hatchback model but also their first dedicated R3X performance model.

These three will be offered with all the Rivian goodies currently available and new ones like the mid-size platform and 4695 cylindrical batteries, as well as with one-, two-, or three-motor configurations and ranges of more than 300 miles on a single charge. However, that's where the good news stops. In fact, the bad news is more abundant, unfortunately. For starters, although Rivian touts a $45k starting price for the R2, it's only slated to arrive in 2026, by which time Tesla could easily find new and innovative ways to move the Model Y below the $40k threshold and render the whole Tesla killer discussion mute. Additionally, the Georgia factory plans have been put on hold – signaling that Rivian definitely doesn't have enough cash at its disposal to handle both the R2 entry into production and subsequent launch in parallel with the plant's construction.

Secondly, their 4695 cylindrical battery cell tech is untested and could result in hiccups that further postpone the launch of R2 beyond the 2026 horizon. If the Rivian R2 were to arrive on the market before the end of the year, I would also call it a potential Tesla Model Y killer or at least a viable alternative for anyone looking to be more adventurous off the beaten path rather than at the mall and during long trips. Thirdly, and I have to say this is the most hurtful conclusion – I am not sure if Rivian has enough life in it to bring the R3 to market. Some already say it could beat Tesla in bringing an affordable model EV to life, but the problem is that Rivian doesn't even say when they plan to introduce the R3 and R3X in production. Sorry, Rivian, but at this point, I have to assume that the cool-looking retro-modern R3 is nothing but vaporware instead of a quirky crossover hatchback that could give a massive jolt to EV adoption…