December 7, 2022

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EV maker Rivian delays deliveries of pickups and SUVs

Rivian Automotive Inc. is delaying deliveries of electric pickup truck and SUVs outfitted with Max battery packs to 2023, CEO RJ Scaringe mentioned in a letter to consumers on Tuesday.

Scaringe mentioned the the greater part of Rivian’s approximately seventy one,000 preorders for the R1T pickup truck and R1S SUV in the United States and Canada had been for a variation of the automobiles with a smaller sized battery pack option providing 314 miles of range on a person charge.

“In get to provide the biggest amount of preorder holders, we will be prioritizing building the Adventure Package deal with Significant pack battery through the up coming yr,” Scaringe mentioned in the mail posted by Rivian on the social media platform Reddit.

Rivian shares closed down three.nine p.c at $102.87.

Immediately after the electric car maker documented its to start with quarterly benefits as a detailed company previously this thirty day period, Scaringe experienced outlined creation worries citing global source-chain constraints, the COVID-19 pandemic, a tight labor industry and limited-phrase issues about building electric battery modules.

Rivian has shipped 386 of the 652 automobiles it has built, like its pickup and SUV.

The even bigger battery pack, named the Max pack, is anticipated to present four hundred miles of range on a one charge. Only 20 p.c of the preorders had been for the Max pack.

Rivian mentioned that in early 2022 it will introduce a aspect for consumers on their Rivian accounts that will display their recent shipping and delivery timing estimate.