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Rivian shifts gears in the EV game, introducing the first ever electric pickup



For adrenaline junkies who care a lot about the environment, we finally have the truck for you – and it’s electric!

The ultimate adventure truck powered by electricity

The world’s first ever electric truck has just rolled off production lines in Normal, Illinois.

Amazon-backed automotive company Rivian bet Tesla and General Motors in the race to manufacture the first electric pickup.

First introduced in 2018. the R1T debuted alongside its sister the R1S with plans to be the firstly developed 5-seat electric trucks.

Back then, the truck was anticipated to cover a range of over 400 miles before charge as the ultimate adventure car for drivers wanting an adrenaline rush.

Following the announcement, Rivian Founder and CEO RJ Scaringe said he wanted to deliver products the world didn’t already have, while redefining expectations through technology.

“Starting with a clean sheet, we have spent years developing the technology to deliver the ideal vehicle for active customers.”

Rivian Founder and CEO RJ Scaringe

“This means having great driving dynamics on any surface on or off-road, providing cargo solutions to easily store any type of gear, whether it’s a surf board or a fishing rod and, very importantly, being capable of driving long distances on a single charge.”

That dream now a reality

Those expectations were met today when the first R1T was rolled out of the factory and into the hands of the first-ever owner.

“After months of building pre-production vehicles, this morning our first customer vehicle drove off our production line in Normal!” Scaringe tweeted.

“Our team’s collective efforts have made this moment possible.”

“Can’t wait to get these into the hands of our customers.”

The R1T model has received regulatory approvals from the National highway Traffic Safety Administration, the US Environmental Protection Agency and the California Air Resources Board.

All 50 US states will see the model popping up in Rivian dealerships across the country, with the truck valued at $67,500 US dollars.

For those hanging out to get their hands on the wheel of one of these muscle machines across Europe, Australia and New Zealand, carsales says you’ll have to wait until early 2022.

Is Tesla behind the eight-ball?

Tesla is still yet to put a date on the release of their Cybertruck, another highly anticipated release for EV fans.

Written by Rebecca Borg


This move is set to boost Australia’s crypto gains



Coinbase is coming down under, in a major boost for the country’s crypto gains

The crypto platform is calling the country “a priority market”.

It will add its local payments platform so Australians can transfer dollars into their Coinbase account.

There will also be advanced trading tools and better pricing.

Users will also receive 24 hour support, where they can ask all about their accounts and concerns.

The exchange is registered with a local regulator to provide its digital currency exchange services.

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TikTok’s parent company loses $7bn



TikTok’s Parent company sees losses grow as it tries to outplay Facebook, Instagram and YouTube

TikTok’s parent company, ByteDance, has experienced a loss of more than $7 billion dollars in operating costs, tripling last year’s records.

The company attributes the huge loss to its massive investment in global growth. It detailed the results in a financial report which was provided to internal stakeholders.

In the first quarter of 2022, the company recorded a profit in its operating costs, with the company’s revenue expanding by more than 80% to $61.7 billion in 2021.

But expenses that are focused on expanding its products worldwide continue to swell at a rapid rate.

While TikTok is one of ByteDance’s most successful and well-known products, the company owns a wide range of digital platforms including: Douyin, Toutiao, Vigo Video, Helo, Lark and BytePlus. In total, it attracts hundreds of millions of users in China alone and 1 billion TikTok users worldwide.

The internal report was emailed to all ByteDance’s 130,000 employees. In a note of assurance, company execs “remain confident in the strength of our business and organisation.”

The ability for ByteDance to continue to invest in the company’s growth is clearly a strong advantage the company has over its competitors in the market.

A new report found Australians spent more time on TikTok in the last 12 months than on Facebook, a leader for many years in the space.

With other platforms such as Facebook, Instagram and YouTube scrambling to compete with TikTok, it seems ByteDance must have a long-term expansion strategy in mind.

The company is evidently trying to arrive at a place where such massive losses relating to operating will be a distant memory.

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How to score one of 500,000 free airline tickets up for grabs



Virgin Atlantic has made the controversial decision to stop operating in Hong Kong

It says the war in Ukraine and restricted air space are the reasons behind the change.

Customers will be offered a refund if they wish.

The war in Ukraine has caused many airlines to pause routes because of safety concerns.

It comes as Hong Kong is set to give away 500,000 airline tickets as it looks to bring tourists back after the pandemic.

The major deal is part of the city’s push to bring life back to the city, which has been under strict COVID measures for much of the last two years.

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