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Amazon-backed EV firm Rivian delays deliveries of R1S SUVs – reports

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Nov 24 (Reuters) – Amazon-backed electrical automobile (EV) maker Rivian Automotive Inc (RIVN.O) has began notifying clients who’ve reserved the R1S SUV of supply delays, media shops reported on Wednesday.

Its shares fell 4.5% to $114.31 in afternoon commerce.

The firm had earlier stated R1S would start manufacturing on the Normal, Illinois plant in December, with the primary deliveries anticipated in January.

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Rivian has now began sending emails to clients to tell them that the supply window has been modified to between May and July on the earliest, in line with media shops InsideEVs and Electrek. (https://bit.ly/3rcqbYJ) (https://bit.ly/3G0BPdp)

Reuters couldn’t independently confirm the data, and Rivian was not instantly out there for a remark.

The startup, flush with money from a profitable $100 billion-valued IPO, has introduced plans for a second U.S. manufacturing unit and it will definitely needs to open crops in Europe and China as properly. It has not offered a location or timeframe for the second U.S. plant.

Shares of the corporate had surged as a lot as 53% in its Nasdaq debut on Nov. 10, cementing Rivian’s place because the second most respected U.S. automaker. learn extra

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Reporting by Eva Mathews in Bengaluru; Editing by Amy Caren Daniel

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