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Rivian delays SUV deliveries until Spring 2022 at the earliest
$Rivian Automotive (RIVN.US)$ trades lower on a Teslarati report that the EV maker will delay future deliveries of its R1T all-electric pickup and R1S all-electric pickup SUV until 2022.
Teslarati sources and members of the Rivian Owners Forum have received emails stating that their pre-ordered R1S SUVs won't be delivered until March 2022 or later, months behind the original projection date of January 2022. Some R1T pre-orders have also been delayed according to sources.
The email did not mention the production start date for the R1S, which was supposed to be in December 2021 but may not be on track given the delays.
The breakdown through an informal poll on the Rivian forum:
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Dogoro777 : Deliveries!! ... is the test, not validation, not stock price, not eps, deliveries!
baby boomers : I guess they are busy hauling IPO money.
hairless baby boomers : Yes, in Ford F150s.
Leoi : RIVN undervalued
rppIg2As8t : Expect more delays and them murger w/ Nikola.
Besides, Amazon will probably use ARVL or GOEV vans, much cheaper.
Or maybe Ford, if Form maneges to build electric Tramsit.
v5PvYvukTK : That's what part shortage does to your production lines
NCDEH6DMn7 : If the market reacts in the same way as it did for Arrival's delay strap yourself in.
A1EIIWLU1C : "deliveries"
oXrssHBsXw : That this info was not available at IPO would seem very unlikely, in the same way as decision by Ford. Would not be surprised if in due course we get some litigation going.
Baby u : Shipping cost of components will eat up any profit per vehicle.
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