Amazon-backed Rivian to delay first EV deliveries until September

Rivian which is seen as a potential Tesla trivial says the deliveries were initially scheduled for July.Rivian, backed by Ford, is aiming to go public later this year and could target a valuation of about $70 billion.
By : Reuters
| Updated on: 17 Jul 2021, 15:40 PM
Rivian electric delivery van
Rivian electric delivery van
Rivian electric delivery van
Rivian electric delivery van

Amazon.com Inc-backed electric-vehicle startup Rivian Automotive will delay the deliveries of its debut vehicle by more than a month due to supply chain issues, according to a letter written by its CEO to customers.

Rivian, seen as a potential Tesla Inc rival, said the timing for the first deliveries of its R1T pickup initially slated for July has now been pushed to September, while that of R1S SUVs have been delayed until the fall.

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"The cascading impacts of the pandemic have had a compounding effect greater than anyone anticipated," Chief Executive Officer R.J. Scaringe said in a letter reviewed by Reuters.

(Also read | Volkswagen ID.8 to come as an Atlas-sized electric SUV)

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"Everything from facility construction, to equipment installation, to vehicle component supply has been impacted."

The global semiconductor crunch has forced carmakers including Volkswagen, Ford and General Motors to cut output as the chip market was swept clean by makers of consumer electronics.

(Also read | Tesla Cybertruck won't have door handles. Elon Musk reveals how EV opens)

California-based Rivian, also backed by Ford, is looking to go public later this year and could target a valuation of about $70 billion, Bloomberg News reported in May.

First Published Date: 17 Jul 2021, 15:40 PM IST
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