June 6, 2023

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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 stated in a letter to shoppers on Tuesday.

Scaringe stated the the greater part of Rivian’s around 71,000 preorders for the R1T pickup truck and R1S SUV in the United States and Canada were being for a model of the autos with a more compact battery pack possibility giving 314 miles of range on a single charge.

“In buy to serve the greatest quantity of preorder holders, we will be prioritizing making the Adventure Package deal with Massive pack battery through the upcoming 12 months,” Scaringe stated in the mail posted by a Rivian purchaser on the social media system Reddit.

Rivian shares shut down 3.nine p.c at $102.87.

Right after the electric car or truck maker noted its initially quarterly benefits as a shown business previously this thirty day period, Scaringe experienced outlined creation troubles citing global supply-chain constraints, the COVID-19 pandemic, a tight labor current market and quick-time period problems all over making electric battery modules.

Rivian has shipped 386 of the 652 autos it has created, such as its pickup and SUV.

The greater battery pack, called the Max pack, is envisioned to supply 400 miles of range on a single charge. Only twenty p.c of the preorders were being for the Max pack.

Rivian stated that in early 2022 it will introduce a aspect for shoppers on their Rivian accounts that will exhibit their latest supply timing estimate.