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EV startup Rivian reportedly delays SUV delivery until at least spring

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Amazon-backed electrical automobile maker Rivian has began notifying prospects who’ve reserved the R1S SUV of delivery delays, media retailers reported on Wednesday.

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

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

Rivian has now began sending emails to prospects to tell them that the delivery window has been modified to between May and July at the earliest, based on media retailers InsideEVs and Electrek.

Reuters couldn’t independently confirm the data, and Rivian was not instantly accessible 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 vegetation in Europe and China as properly. It has not offered a location or time-frame for the second US plant.

Rivian R1S Suv displayed at an auto show
Delivery of Rivian’s R1S SUV is delayed until at least May of subsequent yr, based on media reviews.
LightRocket through Getty Images

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 beneficial U.S. automaker.

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