The constructor Rivian has entered the race for purely electric vehicles with heavyweight support (Ford, Amazon, etc.) but its IPO has been hard hit by the difficulties accumulated and reinforced with component shortages and the rising cost of materials raw.
The few hundred copies of its SUV produced so far have not necessarily reassured the outlook, nor has the halving of production targets, increased to 25,000 units for 2022.
However, the one that billionaire Elon Musk (Tesla) saw going into the wall a few weeks ago still has some backing and proves it by announcing that it has produced 4401 vehicles (the R1T pickup and the R1S SUV) and delivered 4,467 units during the second quarter.
Goals that are always achievable
Above all, the firm indicates that it is able to produce the volume planned for this year, which reassured investors and boosted the stock market price by 10%. The manufacturer has produced 7,969 vehicles so far since the start of production at the end of last year and will therefore have to seriously accelerate the pace in the second half of the year to reach its objective.
The ramp-up of production will be a delicate balancing act with always big expenses and much remains to be done to ensure Rivian’s financial success. And the big manufacturers are arriving on the market with electric ranges…
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