? 2022 Q4 and Full-Year Earnings Results & Shareholder Letter: 50K production goal for 2023, ~400 Mile Range for Max Pack

[R1Sky Business]

I suspect that the space for the spare in the R1S will be utilized for extra batteries as well.

Swing out for spare is coming!!!

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[Kuro-Rivian]

I think it is good news -.....

Hah! No! This is terrible news.

 

[R1Sky Business]

Color me HIGHLY Skeptical...

So u know about Rivian....

 

[R1Sky Business]

One of the points of the announcement today was that they said they will reaching out existing reservation holders on how to update your configuration if desired for the Dual/Max , but they didn't give specifics on timing or cost.

Just counting the votes before the actual vote

 

[strykerwsu]

it is 2023 not 2020 anymore.

In our industry supply for many items is now worse with way more demand.

 

[SANZC02]

Comparing a company from 9 years ago is not the best defense for a disappointing set of production figures. The world has moved on and EV manufacture is not so new or novel as it was in 2014.

I guess it depends on other factors and your point of view. Essentially they have committed to doubling their 2022 production numbers from 25k to 50k. They have committed to almost doubling their service centers in 2023 to 54. I think some of the analyst were thinking 60k this year but stopping the lines to configure for the introduction of LFP and dual motors will cut into that.

We will see what information comes out of the Georgia event tomorrow.

I bought in with a 5 year plan, I’m still ok with the things I am hearing so holding until 2026.

 

[strykerwsu]

*skipping the thread to be here*

I can't be the only one who is pissed off at the "Max Pack" coming in the R1S but only if I order a crappy dual motor instead of the quad. This is frustrating at best, annoying and disappointing for sure.

Of course by the time they actually get around to this, it won't matter because they'll use a AA battery that go 400 miles due to newer tech.

Hasn’t this been known for a long time due to gvwr? Why I switched from max pack R1T to ensure I kept quad since such little delta on pricing.

 

[Guy]

I guess it depends on other factors and your point of view. Essentially they have committed to doubling their 2022 production numbers from 25k to 50k. They have committed to almost doubling their service centers in 2023 to 54. I think some of the analyst were thinking 60k this year but stopping the lines to configure for the introduction of LFP and dual motors will cut into that.

We will see what information comes out of the Georgia event tomorrow.

I bought in with a 5 year plan, I’m still ok with the things I am hearing so holding until 2026.

It does depend on one’s perspective. They have essentially committed to maintaining production at the December 2022 rate. The shutdown for some retooling has no impact if they are parts constrained because they can easily make up for those losses given they are vastly underutilizing the factory and workforce (as Claire mentioned) for the current production rate.
I am curious about the Q4 shutdowns for not just “new technologies” but the cost and process improvements. I wonder what goes.

 

[uthatch]

Without doing my research, I highly doubt any automakers, ever, have been profitable in less than 2 years since delivery of their 1st vehicle.

Yes, in a later post I clarified and stated positive gross profit by 2024 as stated in the deck.

 

[Step Brady]

Interesting read. No real surprises in there other than the R1S Max, but as far as financials go it's about what was expected. They've got work to do to survive, but it seems like they are doing it. I'm hard pressed to believe they'll be operationally profitable in 2024.

You are right, but I worry about viability over five years, with one on order coming in about 12-16 weeks and an R1S (three-year wait). Ford and Amazon still have some stake, but they will run out of cash at the current burn rate in about six quarters. If somebody invests, the share price goes further down, but still got, a long way to a new plant is operational (plus all those costs added to the balance sheet). The Denver delivery shop is about 20 minutes from where my daughter lives in Denver; I have gone by several times and did a first-mile drive about a month ago. I think they are pushing trucks out with such urgency some fit and finish are suffering. Panel gaps and bad paint were visible on about every truck. Panel gaps can be corrected some, but with bad factory paint, you only get one shot at that. They must get this fixed at a $100K price point.

 

[jakef801]

I'm encouraged by the fact that every Amazon Prime truck I've seen on my street over the last few weeks has been a Rivian version. One driver gave me a tour and showed me the app they use. Pretty cool with everything it can do with opening and closing interior and exterior doors., etc. All wheel drive too. I would not have purchased RIVN shares w/o the Amazon's 17% ownership and 100,000 van order. I think the dual motor will be a success, especially if/when interest rates level out and begin to drop, which they will. Hopefully we'll hear something about the RS2 in the next 12 - 18 mos. I think that will sell like hotcakes - bring in Ithe much broader market of female/mom drivers that aren't buying R1Ts. I bought my shares with an expected hold of 7 - 10+ years.

 

[Gerolsteiner]

This might be an unpopular reply, but please either don't share details that could get your neighbor fired, or at least make him aware that you plan to share his answers on the forums before asking him.

From experience, it really sucks when you share something in confidence with a trusted party and then find out they either didn't see it as in confidence, or didn't value your confidence.

If nothing else, he'll probably be your neighbor long after the exclusive goss fades into memory. Not a bridge worth burning, and even if he should be more discrete, a little kindness goes a long way.

It shouldn’t be unpopular, was my first thought too. Kudos to you for not repeating it until it was publicly announced but this is dangerous for him. I assume Rivian isn’t Apple where he’d have the KGB hunt him down and yeet him into the sun, but at lots of companies this is shitcanning worthy, fair or not.

 

[Kieran]

Looking more like max pack is simply cell energy density.

What else would it be?
I mean he did say it would be with the dual-motor enduro too, so there's that.

 

[greatdane1588]

Was that on the audio call? Previously you could but you lost locked in pricing (For R1T).

Official Rivian social media accounts. And again they didn't mention specifics on price/cost adjustment if you make a change now, so people very well may lose locked in pricing, we don't know.

 

[DuoRivians]

Man… that was a disappointing earnings call. No energy. Other than 1/ announcement of R1S dual max pack and 2/ forecasted 2024 gross profit, there wasn’t much to get shareholders really excited…

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