Latest market news

Rivian recalls 93pc of delivered EVs

  • : Battery materials, Metals
  • 22/10/12

Electric vehicle (EV) start-up Rivian announced a recall impacting 93pc of its total delivered EVs because of a loose fastener connecting the front upper control arm and steering knuckle.

The automaker is recalling 12,212 of its R1S SUV, R1T pick-up truck, and its EDV delivery van, according to a notice from the Department of Transportation. Since beginning production in the third quarter of last year, Rivian has delivered 13,198 EVs and manufactured 15,332 EVs. The defect, which increases the risk of crash, is present in 1pc of the recalled vehicles, according to the recall report.

The start-up is attempting to ramp up its existing production and expand its overall capacity but has faced challenges. Rivian is targeting production of 25,000 vehicles this year because of supply chain challenges, according to the company, even as its Illinois plant was tooled for 50,000 vehicles/yr as of the first quarter. The company also introduced lithium-iron-phosphate batteries into its chemistry mix to hedge against nickel prices.

Still, the company is working to expand its overall capacity with its second production facility in Georgia which it expects to start production in 2024.

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more