Photo: Rivian | Edited
Rivian accumulated a significant R1S backlog, considering that the majority of electric vehicles it produced were the R1T trucks. Rivian CEO RJ Scaringe says the supply chain is healthy, allowing the company to fulfill all those R1S orders. His words are backed by the many R1S configuration landing in the R1 Shop, as many reservation holders noticed.
Rivian started deliveries of the R1T in October 2021, snatching the title of the first carmaker to sell an electric pickup truck in the US from under the noses of Detroit Three. The R1T was impressively good, especially for the first product of an automotive startup. Still, many people were more interested in the R1S, an electric SUV sharing the platform with the truck. In a recent interview with Bloomberg, Rivian CEO RJ Scaringe revealed that about 70% of Rivian pre-orders were for the R1S.
Despite that, Rivian produced mostly pickup trucks until now, suggesting that it accumulated a considerable backlog. Scaringe reiterated an earlier promise to deliver more R1S units and fewer R1Ts. R1S production will accelerate in the third quarter as supply chain issues that bogged Rivian over the course of last year are finally over. This was confirmed by the stellar results Rivian reported in the second quarter, exceeding Wall Street expectations.
"What we saw in Q2 is really the beginnings of the supply chain now running in a healthy way," RJ Scaringe said Wednesday in an interview with Bloomberg Television.
Rivian reiterated its production target of 50,000 electric vehicles in 2023. Around 20% of the overall production volumes would be Electric Delivery Vans (EDV) for Amazon. This aligns with previous information that Amazon ordered 10,000 EDVs in 2023, precisely one-fifth of Rivian production target. Still, Rivian isn't happy with the Amazon deal and wants to sell more EDVs to companies outside Amazon. Scaringe confirmed in the interview that they're in the final stages of negotiations to allow selling the vans to others.
Although Scaringe didn't mention exactly how many R1S SUVs Rivian plans to produce in 2023, Rivian inventory seems to be filling up with SUVs. Several reservation holders shared similar experiences in social media after they were granted access to Rivian R1 Shop. There were no SUVs to choose from for a while, but on Wednesday, it rained with R1S in many configurations. The only versions not available to buy from the R1 Shop were the Launch Edition and the factory PPF variants.
Rivian recently started producing the Dual-Motor variants with Enduro motors developed and produced in-house. Switching to Enduro allowed Rivian to significantly increase production, leading to more configurations for people to choose from. With production issues in the rearview mirror and a more predictable supply chain, Rivian will undoubtedly be able to ramp up production and announce new stellar results in the coming quarters.
Despite that, Rivian produced mostly pickup trucks until now, suggesting that it accumulated a considerable backlog. Scaringe reiterated an earlier promise to deliver more R1S units and fewer R1Ts. R1S production will accelerate in the third quarter as supply chain issues that bogged Rivian over the course of last year are finally over. This was confirmed by the stellar results Rivian reported in the second quarter, exceeding Wall Street expectations.
"What we saw in Q2 is really the beginnings of the supply chain now running in a healthy way," RJ Scaringe said Wednesday in an interview with Bloomberg Television.
Rivian reiterated its production target of 50,000 electric vehicles in 2023. Around 20% of the overall production volumes would be Electric Delivery Vans (EDV) for Amazon. This aligns with previous information that Amazon ordered 10,000 EDVs in 2023, precisely one-fifth of Rivian production target. Still, Rivian isn't happy with the Amazon deal and wants to sell more EDVs to companies outside Amazon. Scaringe confirmed in the interview that they're in the final stages of negotiations to allow selling the vans to others.
Although Scaringe didn't mention exactly how many R1S SUVs Rivian plans to produce in 2023, Rivian inventory seems to be filling up with SUVs. Several reservation holders shared similar experiences in social media after they were granted access to Rivian R1 Shop. There were no SUVs to choose from for a while, but on Wednesday, it rained with R1S in many configurations. The only versions not available to buy from the R1 Shop were the Launch Edition and the factory PPF variants.
Rivian recently started producing the Dual-Motor variants with Enduro motors developed and produced in-house. Switching to Enduro allowed Rivian to significantly increase production, leading to more configurations for people to choose from. With production issues in the rearview mirror and a more predictable supply chain, Rivian will undoubtedly be able to ramp up production and announce new stellar results in the coming quarters.
According to Bloomberg, 70% of Rivian pre-orders are for the R1S. Despite that, Rivian has mostly produced the R1T, suggesting a significant backlog.
— RIVN Updates (@rivianupdates) July 5, 2023
I expect a Q3 surge as max pack and enduro motor vehicles ramp production this quarter. Exciting times ahead for Rivian! https://t.co/v3Rv2A1JR3
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