Rivian Q4 FY2021 Earnings Call 3-10-22

[VermontR1T]

Now forecast production this year of 25k. Ouch.

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[sub]

Now forecast production this year of 25k. Ouch.

And that number includes the Amazon van. Potentially far fewer than 25k R1.

 

[NY_Rob]

The music is playing now.. 4:38 Eastern time

 

[Guy]

And that number includes the Amazon van. Potentially for fewer than 25k R1.

Say 10,000 vans leaving around 15,000 R1S which is a bit below the aim of 20k. Let’s see how the rest of the year goes. If the situation improves they are incentivized to produce as many as possible.

Reservations increased by a net 12,000. Looks like 1400 vehicles made this quarter so far with three weeks to go.

 

[manitou202]

10% drop after hours. Market doesn't like what they see. Honestly it's about what I would have expected. I'm still curious what they will say about R1S deliveries.

 

[manitou202]

Interesting to see the comments on developing an 800V battery architecture and a heat pump system. Maybe this was mentioned before but it's news to me.

Honestly I'm surprised to learn the current R1 products don't use a heat pump. That's disappointing as they won't be nearly as efficient in cold weather.

 

[NY_Rob]

"On March 1, we announced the Dual-Motor and Standard battery pack
along with the associated updated pricing model that was referenced above.
In applying the updated pricing to existing preorder customers, we failed to
appreciate that customers viewed their configuration price as locked, and we
wrongly assumed preorder customers would be open to reconfiguring to the
recently announced Dual-Motor and Standard battery pack if they wanted to
maintain a similar price point to their original configuration. We recognized
the impact on our customers and quickly moved to honor the originally
configured pricing for our pre-March 1, 2022 preorders.
Our relationship with customers is one of the most important aspects of what we
are building, and we believe our early customers are critical for establishing the
brand foundation needed to support many millions of annual sales across our
future vehicle portfolio. Since launching in 2018, we believe the brand loyalty
we have forged is one of our most valuable assets, one that we believe will
continue to drive network effects moving forward "

 

[garthkoyle]

https://assets.rivian.com/2md5qhoea...844f1e7/Rivian-Q4-2021-Shareholder-Letter.pdf

 

[ironpig]

only 1410 vehicles produced this year. ouch. Maybe stock will hit 30....

 

[ERguy]

Now forecast production this year of 25k. Ouch.

Where did you get that info? All I hear is music on the earnings call. Has it even started yet?

 

[Guy]

Interesting update is the dual motor is now planned for 2H 2023 rather than last weeks plan of 2024. This will enhance profitability since it was meant to be cheaper and easier to build. They plan to use the new motor in the commercial vehicles by the end of this year - quite the acceleration.

 

[Scoiatael]

Now forecast production this year of 25k. Ouch.

So 10k Amazon vans and 15k R1Ts and R1Ss. I was hoping by some miracle I'd get my R1T this year, but doesn't seem likely. 15k will probably cover LEs and a couple late 2019/early 2020 Adventure orders. Those of us with July/September dates will likely get pushed back to early - mid 2023.

 

[Iwantatesla]

Looking forward to all the FUD articles that will come out. This is like TSLA in 2012.

 

[ATL_Canes]

The music is playing now.. 4:38 Eastern time

Is it the musicians from the Titanic?

 

[Sgt Beavis]

Where did you get that info? All I hear is music on the earnings call. Has it even started yet?

https://assets.rivian.com/2md5qhoea...844f1e7/Rivian-Q4-2021-Shareholder-Letter.pdf
page 17

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