Rivian Loses $33K On Every Truck It Sells

[beowulf]

This report is insane, no wonder they have reportedly got through half their $18B cash reserve.

Rivian Loses $33K On Every Truck It Sells: Report

The electric truck maker is looking to seriously slash its costs as it hopes to be profitable by the end of 2024

jalopnik.com

It’s tough starting a new electric vehicle company these days, just ask Faraday Future or Lordstown Motors. But Rivian seemed like one of the good ones that might actually make it, as it’s been shipping its electric trucks out to customers for almost two years now. However, the company is still burning through cash at an extraordinary rate, and a new report found that it actually loses more than $30,000 on almost every truck it sells.

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[TheGreenTBer]

I see a ton of these things around and they are also common on Cars & Bids.

 

[No Fun Shogun]

I live in Bloomington-Normal, where their main plant is located. I hope like hell that they succeed given how many jobs they've brought to the area, but man.... I'm still very, very far away from believing in their longterm viability.

It is funny whenever we come back from a vacation to anywhere, where there are no Rivian vehicles on the road, back in McLean County, where there are a decent number of them.

 

[LarryFisherman]

I'm sure they'll get another round of funding if cars are dying at 5k miles, but it's going to take a long time for this tech to break even on a brand new company.

As an aside I would 100% buy one if I could afford it.

 

[Baby Punisher]

I'm sure they'll get another round of funding if cars are dying at 5k miles, but it's going to take a long time for this tech to break even on a brand new company.

As an aside I would 100% buy one if I could afford it.

I like the SUV, I have seen a few running around NYC. It's a great-looking truck.