Last Thursday, Rivian published a short video on YouTube revealing its pre-production R1T electric pickup trucks are being assembled to be used for final testing. They will not be sold to customers. Rivian doesn’t expect to start deliveries of the R1T June 2021, with the R1S SUV version following in August 2021. Compared to the original date, that’s a delay of six months due to the pandemic that halted operations at its factory.
The factory
FCAU) and Mitsubishi (OTC: MSBHF). The two companies joined forces to create Diamond-Star Motors in 1985. Back then, FCAU owned a small stake in Mitsubishi. It was a part of his effort to circumvent the limitation of the number of Japanese cars that could be imported into the US. In 1991, Mitsubishi purchased Chrysler’s stake and it continued its production. It closed the plant in 2015. Rivian saved it in 2017 and gave it a new purpose.
Latest YT Video
AMZN) delivery vans and at least one Ford Motor Company (NYSE: F) model.
Not much has happened in a decade
Amazon and Ford have both backed up Rivian. The company has raised $5.3 billion since 2019, so money is not an issue. Therefore, the obstacle to getting its first electric truck into production is something else. Unlike youngsters such as Lordstown Motors, the company was formed more than a decade ago. It is led by a rockstar CEO in R.J. Scaringe with a PhD. in Mechanical Engineering from MIT so expertise shouldn’t be a problem, yet Rivian has not produced not a single car since its inception in 2009. In fact, besides the 2018 Los Angeles Show, the company has been rather silent. However, taking nine years to show off its first two vehicles, the R1T and R1S, isn’t necessarily a bad thing.
Both vehicles were at last set to enter production late in 2020, but then COVID-19 started its relentless march across the globe. The new target production start date is June 2021. These pre-production vehicles will be used for continued testing to ensure Rivian meets and exceeds expectations when it comes to quality and durability.
The promise is yet to be delivered
TSLA) Cybertruck and General Motors Company (NYSE: GM) Hummer.
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