Many customers who have made reservations for the All-Electric Revion R1T pickup are tired of the long delivery delays and are wondering why some orders are taking precedence over others.
The electric vehicle startup recently changed the production order of its vehicles. As such, it now prefers pre-stocked or ordered vehicles over special interior, exterior, and wheel options. Rivian said the move would reduce complexity for its suppliers and allow it to increase production.
However, this has left many early reservation holders in a quandary. One such reservation holder is Jeff Wells who secured an R1T in early 2019 but has not yet been able to take delivery even though those who ordered the truck a few years later have already received them.
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The Revian R1T is the first all-electric pickup truck to hit the market, but Reuters notes that any delivery delay will prove costly for the carmaker as new electric pickups begin production with the Ford F-150 Lightning.
Rivian currently has $ 16 billion in cash, but according to Morgan Stanley analyst Adam Jonas, it burned through প্রথম 1.2 million per car delivered in the first quarter and is advised to spend $ 7 billion in cash this year. In a recent revision earnings call with investors, Jonas warned carmaker Claire McDonough, chief financial officer, that “since [Rivian’s] IPOs, the world has changed dramatically, investors do not want to finance negative EBITDA growth firms in this environment. “
Rivian assured the analyst that it would simplify its lineup and bring its costs under control by reducing costs.
The company believes that the worst of the semiconductor shortage is behind it, but has not yet said when it will expect to make a profit on every car it sells. According to Lucid CEO Peter Rollinson, Revian will have to raise the price of his sticker to $ 95,000 if it wants to return the profit.