Stellantis’ German BEV horror show
The Amsterdam-headquartered conglomerate joins Renault and Tesla in Teutonic turmoil
Rivian was founded in 2009 and is specialist EV producer focused primarily on the US market. Rivian's R1T pickup and R1S SUV are based on the skateboard platform, and enjoy market leading customer ratings. Rivian has strong EV-tech credentials, but faces a significant challenge to bring this to market through mass production.
Automaker inks first deal for commercial EVs after Amazon exclusivity deal ends
OEMs targeting the e-pickup segment may need to rely on customers who have not previously bought trucks
But further optimisation will mean a 2024 factory shutdown
Pure plays and legacy OEMs gain some ground on Tesla, but German firms the big winners
Construction on planned factory will start next year
Markets do not react kindly to $1.5bn convertible note offering
Termination of the deal should open up broader pipeline of commercial fleet customers
Better-than-expected deliveries and conversion rate, but stock down after analysts expected raised full-year sales target.
The US EV pure play has no immediate worries on the size of its potential customer base, but it is also looking to expand it
The US EV pure play promises more to come from its in-house electric drive unit
But analysts are unconvinced about any wider M&A frenzy around cash-hungry US EV pure plays
Rivian is the latest US OEM to abandon the CCS charging standard and adopt Tesla's NACS.
Insider Focus LTD (Company #14789403)