Written by Cláudio Afonso | LinkedIn | X
A few days after announcing the investment from the Volkswagen Group, the California-based electric vehicle (EV) startup Rivian is currently hosting its inaugural annual investor day.
CEO RJ Scaringe and the management team are providing key updates to shareholders on the path to profitability, the production guidance and on the upcoming models.
In one of the presentations prepared for Chief Financial Officer Claire McDonough, Rivian reaffirmed its forecast of producing 57,000 vehicles this year.
Just days before the end of the second quarter, the company shared that it expects to produce between 9,100 and 9,300 vehicles from April 1 to June 30. Additionally, the EV maker estimates its deliveries in Q2 to be between 13,000 and 13,300 units.
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In another slide, Rivian highlighted that with the introduction of its second generation R1 models, and “combined with commercial cost downs and commodity tail winds,” the company will be able to reduce material cost by about 20 percent.
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The detailed breakdown of this cost reduction reveals that propulsion components will account for the largest share, contributing 68% to the total savings. The vehicle body will add another 13% to the reduction, followed by electrical and other components at 12%, and the chassis at 7%.
Earlier today, a new drone video shared by a Rivian enthusiast on YouTube reveals a significant accumulation of delivery vans at the electric vehicle manufacturer’s factory lot in Normal, Illinois.
The footage shows over a thousand vans, including hundreds of blue vans destined for Amazon, the largest shareholder from the electric vehicle startup.
Rivian’s Chief Financial Officer Claire McDonough recently hinted at ongoing discussions with potential clients for their electric commercial vans.
Written by Cláudio Afonso | LinkedIn | X
