Some believe Rivian is destined for a comeback after two red quarters.

Despite posting more than $3 billion in losses in the first half of the year, some remain optimistic about Rivian’s future.

 

The electric vehicle manufacturer is continuing to invest in its Twin Cities manufacturing facility, including a new wind turbine that was recently approved by the Normal Town Council in July.

 

The company recently restructured and reduced costs, including the elimination of some non-manufacturing jobs in Central Illinois. Despite ongoing supply chain issues, ISU Economics Professor George Waters believes the company is poised for a rebound.

 

“They still have that big Amazon order, so if they can get their production going, they should be fine,” Waters said. Rivian and Amazon collaborated on a new shipment of electric delivery vans. Rivian’s primary focus, according to a letter to stockholders, is ramping up production.

 

“The demonstrated production rates within our production facility continue to give us confidence in the systems, equipment, and team members’ ability to ramp the production lines in our Normal Factory,” the company said in a quarterly letter to shareholders. “However, we believe that supply chain constraints will continue to be our production’s limiting factor.” Rivian has a high chance of success due to their market differentiation, product features, financial backing, early market entry, and strong leadership. With the R1S and R1T on the horizon, all eyes are on Rivian as they enter the EV world and try to stake their claim in the electric vehicle revolution. While the EV space continues to see increased competition, Rivian appears to have all of the key success factors in place to rock the automotive industry.

 

Akwo Stanislus
A passionate writer in Automobiles especially in the domain of EVs.

Latest articles

Fisker announces next phase of Ocean One deliveries to start in June

Fisker has recently made an exciting announcement regarding the next phase of production for its highly anticipated Fisker Ocean model. This video will delve...

Tesla’s giant 1 million car recall is literally a feature update

The recent media coverage surrounding Tesla's reported recall of over 1 million vehicles in China has sparked a contentious debate regarding the accuracy and...

Tesla starts monitoring drivers for yawns and eye blinking

Tesla has faced criticism in the past for its perceived lack of emphasis on driver monitoring in its advanced driver-assist features. Recent findings by...

Rivian shares fall as EV maker looks to raise $1.3 billion amid growing demand concerns

Rivian Automotive, a manufacturer of electric vehicles (EVs), has announced its plans to raise $1.3 billion in cash through the sale of convertible notes,...

Related articles

Leave a reply

Please enter your comment!
Please enter your name here