How long is Rivian waitlist?
If you are interested in buying a Rivian
Rivian beats Tesla, Ford, GM to build first EV pickup
The average price for the additional vehicles reserved was $93,000 and Scaringe said it currently has a total of over 90,000 reservations. Rivian built 2,553 vehicles in the first quarter and approximately 5,000 since production began last year.
You'll lose your pre-order that includes everything you wanted, but you could take delivery in weeks instead of months. According to information shared with us by the Rivian Owners Forum, current Rivian R1T reservation holders may be able to take advantage of delivery in six to eight weeks or sooner.
Rivian has received 10,000 more reservations, at an average $93,000, since its March price hike. The electric truck maker Rivian confirmed Wednesday that the line of people waiting for its trucks has been getting longer, far faster than it's been building them.
Rivian reported over 90,000 reservations are now on the books for its R1-series vehicles, up from 83,000 in March. Notably, 10,000 new reservations were recorded after the controversial price hike, with an average purchase price of $93,000. The company also has an order for 100,000 Amazon vans on the books, too.
Unless something changes significantly with Rivian and Lucid (LCID), they will both go bankrupt. They are tracking toward bankruptcy. Rivian secured plenty of cash at the IPO and had an ~$18 billion cash buffer at the end of 2021.
Given all of the headwinds discussed, does that mean that Rivian is doomed to fail? Probably not. But, Rivian is one of thousands of unprofitable growth companies that have seen their valuations re-rated in the last few months, many of which have seen haircuts of 80% or higher.
A Rivian can charge using a Tesla connector, but not a Supercharger.
To select a pre-configured 2022 Rivian R1T model, you have to be waiting to accept the delivery of your preordered model. Those who haven't put in a Rivian order yet are out of luck. Also, this is only for the R1T models. It's currently unclear if there are any pre-configured Rivian R1S models available.
Rivian confirmed that it's on track to build 25,000 vehicles in 2022, in line with the lowered guidance it issued in March. Rivian delivered 4,467 of its electric trucks and SUVs to customers in the second quarter.
Is Rivian going to survive?
This is Rivian, one of the three companies Sandy Munro says will survive. Peter Rawlinson, CEO of Lucid Motors, says that Rivian R1T should be priced at $95,000 or more to be profitable.
Rivian says that the price increases are the result of “inflationary pressure on the cost of supplier components and raw materials across the world.”
Make a Reservation.
Whenever you're ready to move forward, submit your refundable deposit of $1,000 ($1,500 CAD) to become a reservation holder in our system.
Customers can configure and reserve their R1T or R1S with a refundable $1,000 deposit. New preorders generally aren't likely to receive their vehicles before 2023.
Rivian on Twitter: "Let's talk about preorders. Our preorders require a $1,000 deposit and are fully refundable at any time.
The biggest blow, though, came in March when Rivian didn't just report an unexpectedly big loss of $2.5 billion for its fourth quarter against revenue of only $54 million, but also said its parts and supplies will be enough to produce just 25,000 vehicles in 2022 between all its EVs -- the flagship R1T pickup truck, ...
Bottom line: Rivian stock is not yet a buy. Shares are trading well below their IPO price of $78.
Aside from having more than enough cash to support the scaling of production and deliveries, Rivian Automotive's balance sheet cash of $16.4 billion represents an incredible 65% of the company's market value.
Rivian's problem is a good problem to have: It has demand that it's unable to supply. The caveat, though, is that if Rivian fails to scale up and meet demand, it could lose crucial time and opportunity to competitors.
“Since its IPO in late 2021 the Rivian story has been a bad episode out of the Twilight Zone for the Street,” wrote Ives in a Friday report.” Supply-chain problems, price increases, price cuts, weak guidance are all factors the stock is stuck in the Zone, says Ives.
What wrong with Rivian?
With interest rates on the rise, investors have been rotating away from high-growth stocks and loss-making names, and this rotation is hurting Rivian badly, given that the company remains deeply unprofitable, with its cash burn for Q1 standing at over $1.4 billion as it invested in scaling up capacity.
Rivian production and sales results - Q2 2022
So far this year, Rivian produced almost 7,000 electric vehicles, and sold close to 5,700. Rivian YTD results: Production: 6,954. Sales: 5,694.
This was in November 2020, way before total preorders hit the announced 48k figure from September 2021. I can't imagine they would have let people order 25,000 Launch Editions, which will take a huge time to manufacture even under good conditions.
This is Rivian, one of the three companies Sandy Munro says will survive. Peter Rawlinson, CEO of Lucid Motors, says that Rivian R1T should be priced at $95,000 or more to be profitable. One thing Rivian did wrong was raising prices after orders last year of vehicles, and causing a back lash with current customers.
Make a Reservation.
Whenever you're ready to move forward, submit your refundable deposit of $1,000 ($1,500 CAD) to become a reservation holder in our system. (Don't worry – you can keep experimenting with models and options in the studio as your reservation moves closer towards our invitation to configure).
During an interview with the Tesla Silicon Valley Owners Club, Tesla CEO Elon Musk said that both Lucid Motors and Rivian, two US-based electric vehicle startups, are trending toward bankruptcy. The CEO said: Unless something changes significantly with Rivian and Lucid, they will both go bankrupt.
Rivian's coverage is eight years or 175,000 miles (roughly 280,000 km), whichever comes first.
2022 Rivian R1S First Drive: The Three-Row Luxury Family SUV Goes Electric. The marketers at electric vehicle startup Rivian have a very specific idea of the brand's customers. They're adventurous, eco-conscious and affluent—and they need EVs that can do strenuous off-roading during those adventures.
It's arguably a fantastic truck in almost every way, though many buyers simply can't afford it. Moreover, if you haven't yet placed an order, you may not get an R1T for a very long time. Rivian has some unique opportunities here that come from being first to market. Time is on its side.
Rivian confirmed that it's on track to build 25,000 vehicles in 2022, in line with the lowered guidance it issued in March. Rivian delivered 4,467 of its electric trucks and SUVs to customers in the second quarter.
How many r1s does Rivian preorder have?
Rivian says it has 71,000 pre-orders.
