? Rivian IPO S1 Filing - reveals preorder numbers, R1S delivery date, Autonomous Subscription Fee & more...

[SeaGeo]

"The factory building covers approximately 3.3 million square feet and is currently equipped to produce up to 150,000 vehicles annually. We believe that we will be able to increase the annual production capacity of the Normal Factory up to 200,000 vehicles by 2023 as we introduce additional R1 platform variants and expand the facility."

Seems to suggest they expect a pretty rapid buildup in production.

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[SeaGeo]

Expected fees on 111:

• Delivery - $1.7k
• Autonomous - $10k / $5.5k Subscription

To clarify the 5.5k is not drive+. I take that to be the LTR for the subscription service they announced.

 

[ATL_Canes]

Gu

Service on 120:

• 120 service centers and to deploy in excess of 1,000 mobile service vans in 2023
• Our entire service infrastructure is shared by our consumer and commercial customers which generates operational synergies in both physical assets as well as labor. (Is this using Amazon locations as service centers?)

guessing this is more about the Cox synergies, but could be Amazon as well.

 

[RWerksman]

Details on the states they can sell in / are barred from on 139:

Cleared for sales:

• Alaska
• Arizona
• California
• Colorado
• Delaware
• Florida
• Hawaii
• Idaho
• Illinois
• Maryland
• Massachusetts
• Minnesota
• Mississippi
• Missouri
• New Hampshire
• Oregon
• Rhode Island
• Tennessee
• Utah
• Vermont
• Virginia
• Wyoming

Restricted states. Rivian cannot get a dealer license directly here:

• Alabama
• Arkansas
• Connecticut
• Georgia
• Indiana
• Iowa
• Louisiana
• Kansas
• Kentucky
• Maine
• Michigan
• Montana
• Nebraska
• Nevada
• New Jersey
• New Mexico
• New York
• North Carolina
• North Dakota
• Ohio
• Oklahoma
• Pennsylvania
• South Carolina
• South Dakota
• Texas
• Washington
• West Virginia
• Wisconsin

These states will not let Rivian open a service station directly:

• Alabama
• Louisiana
• New Jersey
• New Mexico
• North Carolina
• Pennsylvania
• South Carolina
• West Virginia

In these problem states, it does not appear that you'll be able to meet with anyone with Rivian directly, including for a test drive.

 

[Scoiatael]

"The factory building covers approximately 3.3 million square feet and is currently equipped to produce up to 150,000 vehicles annually. We believe that we will be able to increase the annual production capacity of the Normal Factory up to 200,000 vehicles by 2023 as we introduce additional R1 platform variants and expand the facility."

Seems to suggest they expect a pretty rapid buildup in production.

That is insanely optimistic. If they can produce 150k vehicles in 2022, that would mean every pre-order would be delivered before the end of summer.

 

[kurtlikevonnegut]

I like the sound of preorder holders getting a free shot at the IPO!

Any word on the subscription amount regarding whether that's annual or expected over the life of the vehicle? Can't imagine I'll be paying $450 a month for a subscription on top of my car note.

 

[LordUlhtred]

Pre-order holders get a little love!!!

Anyone know (or educated guess) how might a pre-order holder access the directed share program?

 

[RWerksman]

Board members on 147:

• Karen Boon - President of Restoration Hardware
• Sanford Schwartz - Cox
• Rose Marcario - Patagonia
• Peter Krawiec - Amazon
• Jay Flatley - Illumina (genetic analysis company)
• Pamela Thomas-Graham - Dandelion Chandelier (luxo digital media)

 

[kurtlikevonnegut]

Anyone know (or educated guess) how might a pre-order holder access the directed share program?

I would expect them to communicate with us via email about how to opt in. This excites me.

 

[SeaGeo]

"Beyond the membership program, we also plan to offer other bundled services to improve the customer experience, such as a premium vehicle service package and a premium in-vehicle software offering. The premium in-vehicle software offering is expected to include expanded access to additional autonomous driving capabilities and vehicle driving modes. "

The membership announcement said it provided access to drive modes. How many subscriptions are we going to need with Rivian???

 

[RWerksman]

RJ Salary on 156 - $1.3M is salary and bonus.

 

[Blur1t]

In line with Tesla.. and not shocking.

I honestly expect any vehicle manufacturer with two brain cells, to offer the cash sink that is developing an actually "good" autonomous driving solution as a subscription service. It's post purchase cash flow... why wouldn't you?



Oh that sucks... not a software parm they can edge up, hardware limitation...

Maybe waiting for max pack vehicles for the 300kwh?

 

[Temerarius]

Pre-order holders get a little love!!!

I like the sound of preorder holders getting a free shot at the IPO!

That's.... like an early Christmas present (and completely unexpected). I'm not gunna lie.

 

[RWerksman]

"Beyond the membership program, we also plan to offer other bundled services to improve the customer experience, such as a premium vehicle service package and a premium in-vehicle software offering. The premium in-vehicle software offering is expected to include expanded access to additional autonomous driving capabilities and vehicle driving modes. "

The membership announcement said it provided access to drive modes. How many subscriptions are we going to need with Rivian???

I'm thinking this will end up being a subscription for Autonomous Driving. Clearly they are expecting a fee for that - either one time or monthly.

 

[SeaGeo]

That is insanely optimistic. If they can produce 150k vehicles in 2022, that would mean every pre-order would be delivered before the end of summer.

I don't think it means they will hit full production in 2022, but they see a need to be ready for more in 2023. I'm pretty sure they're going be supply chain limited for 2022 like everyone else.

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