Written by Cláudio Afonso | LinkedIn | X
The electric vehicle maker Rivian issued on Friday a physical recall of certain model year 2023-2024 R1S, R1T, and EDV vehicles. The concrete number of units recalled was not specified by the company.
According to the statement, the EV manufacturer has determined that these vehicles fail to meet Federal Motor Vehicle Safety Standard (FMVSS) 108 requirements for headlamp aiming.
The headlamps on these models are aimed slightly too low, potentially leading to insufficient road illumination and an increased risk of nighttime crashes.
Rivian stated that it will inspect and adjust the headlamps on affected vehicles to meet the required specifications and owners are advised to schedule the recall service repair at their nearest Rivian Service Center.
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Earlier this week, Rivian CEO RJ Scaringe flew to New York to attend on Wednesday the Bernstein’s Annual Conference where he revealed that the R3, expected to be launched in early 2026, will be priced at “mid to high $30,000s”.
Following the conference on Wednesday, Scaringe visited Morgan Stanley’s headquarters in Manhattan on Thursday. In a new research note released on Friday, Morgan Stanley analyst Adam Jonas highlighted Rivian‘s unique position in the automotive industry, especially in comparison to Tesla.
He emphasized Rivian’s potential to scale a fully integrated software stack essential for capitalizing on AI opportunities, noting that Rivian’s market value is currently just 1/60th of Tesla’s.
NEVER MISS AN UPDATE
At the Bernstein conference, the chief executive said that the mid-size SUV space is “the largest addressable market” in California right now adding that Rivian believes that it will continue to happen in the future.
“The largest addressable market that we see and we believe will continue is in the midsized SUV space, and that puts us price point-wise below $50,000, north of $40,000, so in the $40,000 to $50,000 range,” the CEO said.
In the same interview, the chief executive acknowledged that from an investor’s perspective, the second quarter will appear less favorable due to the plant shutdown in April. The suspension lasted four weeks, significantly impacting production at the plant in Normal, Illinois.
Written by Cláudio Afonso | LinkedIn | X
