Tesla Rival Rivian Announces Very Aggressive Goals (profitable in 2024)

[jbssfelix]

I have always see the R1S as the EV successor to the Land Cruiser. It's not as quirky as Subaru and not as blue collar as the Jeep. I can see why it could be seen as a Defender alternative but when I look at the R1S I see more Land Cruiser FJ60 vibes. I am a Toyota fanboi so maybe it's my way of justifying the R1S.

As someone who has a LC200/Model 3 combo in the garage, this is spot on. Our R1S order is essentially the result of my two cars getting jiggy in the garage.

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[evguy]

I think this article misinterpreted the statements about next year's production. The article says 85,000 "R1S" but I think the announced expectation was 85,000 "R1's" (as in total of R1S and R1T combined).

 

[BRIDGETOWN]

Does the statement below imply that all pre March reservations will be delivered by the third quarter? My date is still holding at January - June 2024. Might we we pleasantly surprised?

The automotive group claims that by by mid-2023 it will be able to produce and deliver all vehicles that were ordered before the March price hike.

 

[VSG]

Does the statement below imply that all pre March reservations will be delivered by the third quarter? My date is still holding at January - June 2024. Might we we pleasantly surprised?

The automotive group claims that by by mid-2023 it will be able to produce and deliver all vehicles that were ordered before the March price hike.

Everybody keeps repeating that ALL of the price protected orders WILL BE delivered before 2024. But as far as I can tell, that is not what was said by Rivian - that's simply what is being (wrongly) reported as said by a lot of outlets (who also seem to be copying each other).

A first hand account of the BofA webcast is here: Claire McDonough, Rivian CFO, Webcast Summary

That summary says "Pre-order pricing will be largely exhausted and fulfilled in 2023" which is a quite different statement. Moreover, "largely exhausted" is completely consistent with everything we know about the number of price protected pre-orders and Rivian's production estimates, as well as current problems delivering to various locations (e.g. Canada). There are also the Max Pack holdouts who haven't switched and who we know for sure are not getting their quad max packs in 2023. But these are a minority of the orders, so "largely exhausted" is believable.

Simple math will tell you that Rivian will be able to deliver "most" price protected orders this year. But "all" price protected orders is a stretch, and is inconsistent with previous financial reports where they have stated only that all these orders will be fulfilled before the end of 2024 (as an explanation of how long the write-off for price protected orders is going to impact profits).

 

[RoadRunner]

Everybody keeps repeating that ALL of the price protected orders WILL BE delivered before 2024. But as far as I can tell, that is not what was said by Rivian - that's simply what is being (wrongly) reported as said by a lot of outlets (who also seem to be copying each other).

A first hand account of the BofA webcast is here: Claire McDonough, Rivian CFO, Webcast Summary

That summary says "Pre-order pricing will be largely exhausted and fulfilled in 2023" which is a quite different statement. Moreover, "largely exhausted" is completely consistent with everything we know about the number of price protected pre-orders and Rivian's production estimates, as well as current problems delivering to various locations (e.g. Canada). There are also the Max Pack holdouts who haven't switched and who we know for sure are not getting their quad max packs in 2023. But these are a minority of the orders, so "largely exhausted" is believable.

Simple math will tell you that Rivian will be able to deliver "most" price protected orders this year. But "all" price protected orders is a stretch, and is inconsistent with previous financial reports where they have stated only that all these orders will be fulfilled before the end of 2024 (as an explanation of how long the write-off for price protected orders is going to impact profits).

Thanks for that clarification - it all makes a lot more sense now.

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