Rivian Q4 FY2021 Earnings Call 3-10-22

[NorthernOak]

oooh, they are developing a bi-directional home charger.

I wonder if that is going to just be a software update to the vehicle and their charger they are already selling, or if it's going to end up being a whole new product.

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[Redline]

Not impressed with the amount of blame on the supply chain parts.

Unfortunately it's a reality right now, but it's a reality across all segments really.

 

[ironpig]

let's see if anyone holds their feet to the fire.

 

[Max]

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.

At 45K spot in line, I probably won't see mine until 2024. What does that mean? Getting 800V and heat pump with better AC output at the same price?

I am guessing their new delivery date app on your account page will be going bananas changing dates for the next two years.

 

[Redline]

Still confident on getting 55,000 vehicles out by end of '23.

 

[Kmann1994]

Not impressed with the amount of blame on the supply chain parts.

What do you think is the alternative? Ship cars without all of the parts? Force suppliers to move faster...or else?

Have you seen what's happening at every other automaker in the world?

 

[Guy]

let's see if anyone holds their feet to the fire.

well the first question confirmed that those who ordered by end of last year will get their vehicles by 2023 as planned.

 

[freshpow]

Sounds like this guy from Morgan Stanley placed a preorder sometime in Oct/Nov of 2021

 

[paariv]

Also a completely BS statement that "customers viewed the prices as locked." We knew prices were subject to change, we just didn't expect such a hamhanded, one-size-fits-all approach that didn't take into account order date, etc.

I like the Morgan Stanley guy pushing for numbers.

 

[hilld]

What do you think is the alternative? Ship cars without all of the parts? Force suppliers to move faster...or else?

Have you seen what's happening at every other automaker in the world?

Actually there is precedent in that idea. MB did that with their Sprinter Vans, the high end modules (called Hermes module) are constrained, they shipped the vans without the module with a promise to retrofit the vans once they became available again.

 

[TXR1S]

What do you think is the alternative? Ship cars without all of the parts? Force suppliers to move faster...or else?

Have you seen what's happening at every other automaker in the world?

Better up front planning over the last 2 years.

Redundant suppliers.

Alternative component options.

Others are successfully mitigating this.

Rivian is saying “wow, buying parts for cars is hard guys!!”.

 

[ironpig]

"Hi RJ - I'm interpreting this as 1 or 2 suppliers are lagging? Can you just call them out publicly so we can all put pressure on them?"

 

[bd5400]

well the first question confirmed that those who ordered by end of last year will get their vehicles by 2023 as planned.

Yea, it sounds like timelines will shift, but they will still all remain within 2023 for those orders. Q4 2022 estimated deliveries may get pushed into 2023, but it should have a cascading effect for those who already have 2023 delivery estimates.

 

[Redline]

Wow, helping some of the suppliers bring in 3rd parties to fill shifts.

 

[Craigins]

Numbers just short of what I was predicting. Q1 looks horrible though. Hopefully they can ramp up to meet their new annual number.

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