The automotive sector is not easy for those who are already protagonists, let alone for those who play the part of the rookie. Confirmation of this rule comes from Rivianan American electrical manufacturer who recently put it on the record massive losses in the fourth quarter of 2021.
The manufacturer, although supported by large companies such as Amazon and Ford, posted a net loss of € 2.24 billion in the final quarter of last year. Turnover from the sale of 909 vehicles ran aground at € 49.2 million. At the end of fiscal 2021, Rivian it suffers a net loss of 4.25 billion euros. As analysts had expected better results, the share price fell after the data was announced. The figures therefore show how extremely expensive it is to start series production of a vehicle.
In 2022, Rivian has already been able to build 1,410 cars, as of March 8, averaging around 140 cars per week. In February, however, the interruption of production for at least a week for improvement works was reported. So now things are improving, and with more deliveries, the revenue will increase. But the breakeven point remains a long way off.
Rivian said that all three vehicles in its range are now in production: alongside the R1T electric pickup, the R1S SUV is being built on the same line, while assembly of the electric van ordered by Amazon has also begun. In addition to the 100,000 vans to be put together for the Amazon Transporter project, R1T and R1S have reached 83,000 pre-orders. Problems with supplying components may continue on the horizon.
In order to make a financial breakthrough, Rivian continues to try to raise the technological bar by continuing its development work. A “platform for new generation vehicles”, at 800 volts, again with dual and quadruple engine configurations, is being studied.
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