Rivian says it will deliver over 1,000 vehicles by the end of the year including the R1T, R1S and Amazon EDV.
see photosRivian is planning an IPO that could be valued at $60 billion
Only last week it was revealed that Rivian production was going at snail’s pace and was only building two cars per day on average. But now it is slowly gaining momentum. As of the end of October, it has produced 180 R1T electric pickup trucks and delivered 156 of them. This is new data that has emerged from a document relating to its IPO, which many believe will be valued at around $60 billion. This means that it has already doubled its production to about 3.8 vehicles per day – but the problem is that all these vehicles have been delivered only to Rivian employees. But interestingly, Rivian says that the production ramp-up will happen in December. It wants to make a total of 1,135 vehicles by the end of this year.
Read also: Rivian is making just 2 cars per day
It wants to make 1,200 R1T models while it will gradually start production of the R1S SUV and will also make 25 units of it. In addition, it will also manufacture 10 units of an electric delivery van, which it aims to build for Amazon. In all, the plan is to deliver 1,000 R1T models, 15 R1S models, and all 10 EDVs that Amazon manufactures in December itself.
RJ Scaring shares photo of the first car off the production line
“We plan to launch and begin customer deliveries for the R1S, a three-row seven-passenger sports utility vehicle (“SUV”) in December 2021 after the completion of ongoing vehicle verification and all required testing by 2021. By the end, we intend to produce approximately 1,200 R1T and 25 R1S and deliver approximately 1,000 R1T and 15 R1S. By the end of 2021, we intend to produce and distribute approximately 10 EDVs,” Rivian said.
Its pre-orders are also increasing since October. Its pre-orders have increased from 48,390 for the R1T/R1S combined to 55,400 in just one month in the US and Canada as of September 30, and that’s an impressive spike.
Rivian believes that there will be a backlog of orders all the way into 2023 and as of now, it looks like it will take two years to complete the production of existing orders alone. Rivian, however, also notes that it has a capacity to manufacture 150,000 vehicles annually, but that level will be reached only in 2024. After the update, its plant will also be able to handle up to 200,000 vehicles.
The Rivian has been praised for its off-roading capabilities
“The factory building covers approximately 3.3 million square feet and is currently equipped to produce 150,000 vehicles annually. Beginning in 2024, we expect to reach a vehicle manufacturing rate that, when annualized, will result in us utilizing the facility’s current installed capacity.. We are confident that we will be able to increase Normal Factory’s annual production capacity to 200,000 vehicles by 2023 as we introduce additional R1 platform variants and expand the facility Over the next few years, we expect to establish additional domestic production capacity to support our product development roadmap and meet anticipated future demand,” it said.
0 notes
It is important to note that Rivian needs as much capacity as it also needs to make 100,000 EDV for Amazon alone which is a major investor.
for the latest auto news And ReviewFollow carandbike.com Twitter, Facebookand subscribe to our youtube Channel.
.