Rivian Deliveries Pushed to 2022

Rivian has started notifying customers that they will need to wait a bit longer to receive their vehicles.

Rivian has sent notifications that lay out delivery windows for the “Launch Edition” that range from March to September. It’s reasonable to assume that the company’s less-pricey “Adventure” and “Explore” packages will also be pushed to the second half of 2022.

While Rivian has started production of its all-electric R1T pickup, few have been delivered. The R1S SUV was expected to go into production next month, but it is not clear if that will be the case.

Rivian currently operates a single factory in Normal, Illinois and is reportedly looking for a second factory location. 

Early reviews of the R1T pickup have been strong. And investors have been supportive, as the company’s recent IPO gave it a market capitalization of $100 billion.

 

[Ogre]

More fallout than expected... not a good sign.

Hmm. 10% of buyers still on board? That’s right in line with their annual production capacity. Works out well.

 

[RobDickinson]

I guess if they can only make so many why worry about the rest they might as well sell with better margin

 

[Zorg]

At those prices, they're definitely a niche car maker. I don't even know why they want to build a new plant because their TAM isn't that big. Tesla sales of S and X peaked around 100K per year. Their overall sales only exploded when the 3 and Y came out.

 

[Earl]

This has a whiff of fraud to me.

I won't say it isn't fraud, however, it is just as likely to be the true cost of doing business.
Making an automobile company is extremely hard. Tesla is the only American success story in the better part of a century. Rivian will probably go close to broke, just like Tesla did, before either taking off or disappearing.
They have a few things going for them that Tesla didn't (receptive investment community) and some things that Tesla didn't (low hanging Roadster fruit).
My gut feeling is that Rivian is legitimate and just having to make tough decisions to keep going. I haven't invested or reserved a vehicle though since I'm not rich enough for another expensive vehicle that I don't need and we already have a Roadster.

 

[FastEddieB]

We canceled our order last night. $80k was possibly justifiable for what might be the last truck we’d ever need. The below price increase made it unpalatable - closing in on $100k for a truck after taxes is pretty heady stuff.

 

[RobDickinson]

You know you done screwed up when r/rivian needs a megathread for cancellations

 

[TrevTremaine]

Well, it looks like the hit had it's effect. Please read: After backlash, Rivian backtracks on price hike in letter from Founder/CEO RJ Scaringe

 

[Ralbright]

Already have 15k of equity in my R1S before I take delivery!

 

[dipper]

Guess there is a lesson for companies taking pre-order.

GM and Ford knew better and stop taking reservations after certain amount.

 

[Ogre]

Guess there is a lesson for companies taking pre-order.

GM and Ford knew better and stop taking reservations after certain amount.

Ford & GM are just not production more than a token number of them at the lowest prices. You might want that $40k F150, but it’s not coming. Might as well have a lottery ticket.

 

[dipper]

Ford & GM are just not production more than a token number of them at the lowest prices. You might want that $40k F150, but it’s not coming. Might as well have a lottery ticket.

You mean how GM and Ford learned from Tesla Roadster 2020 case study?

 

[Zorg]

Clearly, there is a much demand for an EV truck at 75-80K than at $90K+. The question is whether pre orders will keep pouring in after the price increase. Frankly 2 or 4 motors shouldn't be a big deal to most, but an $80K truck with 260 miles of range is a tougher proposition.

 

[Ogre]

Clearly, there is a much demand for an EV truck at 75-80K than at $90K+. The question is whether pre orders will keep pouring in after the price increase. Frankly 2 or 4 motors shouldn't be a big deal to most, but an $80K truck with 260 miles of range is a tougher proposition.

… and if you get the off-road tires it’s more like 235 miles. Add the rails and a couple bikes and it’s down to 200 miles. Add the pop up tent instead and it’s down to 190. They have a lot of options that reduce range which doesn’t work super well when you have low range to begin with.

 

[FlatSix911]

Well, it looks like the hit had it's effect. Please read: After backlash, Rivian backtracks on price hike in letter from Founder/CEO RJ Scaringe

"For anyone with a Rivian preorder as of the March 1 pricing announcement, your original configured price will be honored. If you canceled your preorder on or after March 1 and would like to reinstate it, we will restore your original configuration, pricing and delivery timing. Our team will be sending an email in the next few days with more details."

 

[TrevTremaine]

After Thursday's announcement, it's boding well for Rivian. I'll still hope for the company to survive but it's going to be a long battle.

 

[TrevTremaine]

After Thursday's announcement, it's boding well for Rivian. I'll still hope for the company to survive but it's going to be a long battle.

Uh...since the edit time ran out, just a minor change "...NOT boding well..."

 

[dipper]

Still think the GA expansion is a mistake. Should of taken care of spending on delivery and not burn more money in the short term.

 

[thesmokingman]

Still think the GA expansion is a mistake. Should of taken care of spending on delivery and not burn more money in the short term.

Yeap, many have the same sentiment. They're trying to run before they learn to walk.

Anyways, the wife tells me there is a R1T in the neighborhood. I wonder if its an employee since we only live 10 minutes from Irvine?

 

[Doc Brown]

Saw a Rivian in the wild yesterday. Forest Green. looked like a nice truck driving down the road - but still can’t get over the front end / headlights.

 

[thesmokingman]

Saw a Rivian in the wild yesterday. Forest Green. looked like a nice truck driving down the road - but still can’t get over the front end / headlights.

It looks really good in black and the front end kind of blends into it surprisingly. Gis it and you'll be surprised I think.