"Demand is accumulating faster than we can produce vehicles," he said.Alongside the vehicle rollout, Amazon has added charging stations at its delivery stations across the country and will continue to invest in building an infrastructure to support a more sustainable delivery fleet. Despite announcing an across-the-board price hike last month that unsettled some reservation holders, the trendline for demand keeps moving higher. That customer interest continues to build. It's going to be something that makes the brand and the company address a more broad market of customers in terms of price point." "We have a lot of customers that love the brand and what we're doing, but say 'I'd like something that was a little less expensive,'" he explained. A timeline for its market launch has not been publicly revealed. Rivian expects vehicles using that architecture to have lower price points in order to reach a broader range of customers. R2 is the company's future, smaller platform. A lot of his day-to-day work is trying to secure the components necessary to build R1 products while his best engineers are working on R2. Scaringe says that the hardest part of his job right now is balancing short-term and long-term objectives. Rivian vice president of manufacturing Tim Fallon (furthest right) shows media the flow of materials through its Normal, Illinois plant while CEO RJ Scaringe (second right) looks on. The factory came with six stamping machines and other equipment, saving Rivian hundreds of millions of dollars, according to the company. Its sprawling Illinois plant was purchased from Mitsubishi for $16 million in 2017. Rivian production has benefitted from the failures of another automaker.
In its end-of-year filing with the Securities and Exchange Commission, it reported $18 billion in cash on hand.
After going public on the NASDAQ in 2021, the company currently has a market capitalization of about $36 billion.
"You cannot start a car company for a few $100 million, at least not a scale car company."įor now, Rivian has those billions. If other automakers don't think that, then they don't yet understand the scale of the challenge," he said. "Today, to truly develop a product that has quality, durability and robustness, it takes billions of dollars. Rivianĭuring a recent factory tour at its sprawling 3.3 million square foot facility in Normal, Illinois, CEO RJ Scaringe told Newsweek that Rivian isn't just another startup. The start-up plans to release its SUV this year. In Q1, the automaker produced 2,553 vehicles and delivered about half of those.īy the end of the year, Rivian projects that it will have produced 25,000 vehicles. Rivian is currently concentrating on batch deliveries, meaning that the quarter ended with a lot of produced vehicles that hadn't been delivered yet. The end of the first quarter of 2022 coincided with a ramp-up in production. Rivian has been working to meet the flurry of interest and demand that it has generated since it started to take reservations for the R1T pickup in 2019. Cox Automotive invested $350 million in 2019.
Since 2019, Ford has invested $1.2 billion in Rivian. It also got an infusion of cash in 2019 when retail giant Amazon came calling with an order for 100,000 for EV delivery vehicles. The upstart was incorporated in 2011, and has gained fame by becoming the first company to release an electric truck late last year, beating Tesla, Ford and GM to the punch.
#Rivian deliveries full
On the cusp of the launch of its R1S all-electric SUV, automotive startup Rivian is trying to take full advantage of its momentum to ramp up production.
0 kommentar(er)
