Rivian says Australia market critically important, but may have to wait till 2023

Rivian’s most recent filing with the US Securities and Exchange Commission (SEC) highlighted the importance of the Australian market to the company’s future prospects but also warned that its long-awaited electric ute and SUV could not arrive in Australia until 2023 at the earliest.

Rivian began production of its R1T electric adventure pickup truck in September which seems to be capable additions to the electric car industry, and the arrival of two vehicles in Australia in the dead of night aboard a plane in August generated quite a stir.

Rivian told The Driven at the time that the two vehicles were here for testing and that the vehicle was being developed.  Rivian’s most recent filing with the US Securities and Exchange Commission (SEC) highlighted the importance of the Australian market to the company’s future prospects but also warned that its long-awaited electric ute and SUV could not arrive in Australia until 2023 at the earliest.

Rivian began production of its R1T electric adventure pickup truck in September which seems to be capable additions to the electric car industry, and the arrival of two vehicles in Australia in the dead of night aboard a plane in August generated quite a stir.

Rivian told The Driven at the time that the two vehicles were sent to Australia for testing and that the vehicle was being developed.

The recent filing could peak buyers’ interest even more, but they’ll have to hold their breath for a couple of years.

The electric automaker is planning to go public, with an estimated valuation of $US80 billion, making it one of the most valuable auto companies in the world by market value.

The company’s most recent S-1 filing, which registers the company with the SEC ahead of its anticipated IPO, has multiple references to Australia, indicating that the company intends to debut its vehicles in the country.

Rivian’s filing notes that trucks (that is, utility trucks, or utes in Australia) and SUVs are the fastest-growing and profitable segment in the US – which is also the case in Australia – and that electric vehicle adoption is at a tipping point of no return.

In a paragraph discussing data privacy, Rivian states that “Many large geographies which may become important to our future success, including Australia, Brazil, Canada, China, and India, have passed or are considering comparable data privacy legislation or regulations.”

The document also refers to Rivian’s “serviceable addressable market” (SAM) which it estimates to be worth $US1 trillion ($A1.36 trillion).

But Australia is not included in these initial estimations. As the document notes, the filing also notes that the company’s near-term plans include expansion into Canada and Western Europe. Only after this will “major Asian-Pacific markets” follow, it would seem.

And Rivian describes how it has calculated its “SAM”: “We only include vehicle sales in the United States, Canada, and Western Europe when calculating SAM given we plan to operate and sell our consumer vehicles in these regions through 2023.”

Hanson F.https://thevolter.com
Hanson is a lover of electric cars especially Rivian. He is a contributor for The Volter as well as other news hubs

Latest articles

Rivian Just Delayed the R1S Again: Here is Why

Events and anticipative speculations showed that Rivian was going to start deliveries of its R1S electric adventure SUV anytime soon. But to the disappointment...

We combed Through the Entire Rivian R1S User Guide and This is What we Found

We have been waiting with so much anticipation to see the R1S deliveries begin. Signs that the deliveries are soon to begin are coming...

How Long Does It Take To Charge A Rivian?

Like other EVs, Rivian cars are not only prestigious but also environmentally friendly and cost-effective as they do not need gasoline. Because they do...

Rivian’s Strategy to Overcome the Upcoming Battery Shortage

(adsbygoogle = window.adsbygoogle || ).push({}); This has got to be the worst time for a startup automaker to begin production...

Related articles

Leave a reply

Please enter your comment!
Please enter your name here