Rivian Q2 earnings

LCIDdreams

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Lucid Air Pure…eventually
I was mainly interested in whether Rivian would adjust their 2022 production outlook. They reiterated their 25,000 target in their earnings report today. That would mean about 18,000 vehicles total for 2nd half of the year.
 
Rivian seems to be burning big chunks of cash. Not sure when you compare revenue to losses who is burning cash faster, Lucid or Rivian but it seems Rivian is hemorrhaging cash
 
I want Rivian to succeed. It’s good for the EV market to have diversity and choices.
 
I want Rivian to succeed. It’s good for the EV market to have diversity and choices.
I agree but just as Lucid's 400,000 plant doesn't make sense. Rivians cash burn if excessively worse means the car still isn't priced right. I guess when it comes to both Lucid and Rivian time will tell but i'd rather see both of them succeed and have one of the dinosaurs fail.
 
Rivian seems to be burning big chunks of cash. Not sure when you compare revenue to losses who is burning cash faster, Lucid or Rivian but it seems Rivian is hemorrhaging cash
Rivian is definitely burning it faster but have more (now down to $15B)

Rivian has about 3.5x revenue of Lucid ( because they are producing more)
 
Rivian is definitely burning it faster but have more (now down to $15B)

Rivian has about 3.5x revenue of Lucid ( because they are producing more)
I think they are trying to expand faster, which is good for them to reach peak production. They estimate it will run them through 2025.
 
Saw this online

"Rivian will have to manufacture just under 700 vehicles per week in 2H 2022 to reach its 25,000-unit goal for 2022. This would represent about a 74% increase from its rate over the period May 10 through June 30.

In a departure from Rivian’s past two quarterly earnings releases, the company did not specify its production levels in the quarter to date. Putting forth that information is of course not required, but not releasing it when positive production data over the last six weeks would reinforce investors’ belief that 25,000 vehicles will be manufactured this year is curious"

Got some pretty big goals to achieve. They better hope that they don't have any hiccups
 
Saw this online

"Rivian will have to manufacture just under 700 vehicles per week in 2H 2022 to reach its 25,000-unit goal for 2022. This would represent about a 74% increase from its rate over the period May 10 through June 30.

In a departure from Rivian’s past two quarterly earnings releases, the company did not specify its production levels in the quarter to date. Putting forth that information is of course not required, but not releasing it when positive production data over the last six weeks would reinforce investors’ belief that 25,000 vehicles will be manufactured this year is curious"

Got some pretty big goals to achieve. They better hope that they don't have any hiccups
Hitting their target probably means continuing ramping up at least 60% per quarter as follows:
Q1: 2500
Q2: 4400 (up 76%)
Q3 est.: 7040 (up 60%)
Q4 est.: 11,264 (up 60%)
TOTAL: 25,204

Quite big steps but I’m pretty sure I heard on the call they have only been running a single shift so far so maybe they have it under control. I’ve also lost track on what is happening with R1S production… I think they have basically punted that to 2023 (which will make it easier to hit their target as they only need to focus on 2 models).
 
Uh-oh!;


"Rivian canceled the entry-level version of the R1T, effectively raising the price of its base model electric truck by over $6,000, according to an online forum for customers and later confirmed by the company.

The company said in an email to customers that it was canceling the base “Explore” model, which started at $67,500, in favor of the $73,000 “Adventure” trim. Customers can either upgrade to the more expensive trim level or cancel their orders, the company advised. Rivian has also “discontinued” the less expensive trim for its R1S electric SUV, which is expected to start shipping to customers later this year."

As a Pure ORDER holder, I hope that Lucid doesn't try the same $hit.
 
Uh-oh!;


"Rivian canceled the entry-level version of the R1T, effectively raising the price of its base model electric truck by over $6,000, according to an online forum for customers and later confirmed by the company.

The company said in an email to customers that it was canceling the base “Explore” model, which started at $67,500, in favor of the $73,000 “Adventure” trim. Customers can either upgrade to the more expensive trim level or cancel their orders, the company advised. Rivian has also “discontinued” the less expensive trim for its R1S electric SUV, which is expected to start shipping to customers later this year."

As a Pure ORDER holder, I hope that Lucid doesn't try the same $hit.
Dang, ish just got real.
 
Uh-oh!;


"Rivian canceled the entry-level version of the R1T, effectively raising the price of its base model electric truck by over $6,000, according to an online forum for customers and later confirmed by the company.

The company said in an email to customers that it was canceling the base “Explore” model, which started at $67,500, in favor of the $73,000 “Adventure” trim. Customers can either upgrade to the more expensive trim level or cancel their orders, the company advised. Rivian has also “discontinued” the less expensive trim for its R1S electric SUV, which is expected to start shipping to customers later this year."

As a Pure ORDER holder, I hope that Lucid doesn't try the same $hit.
Especially in light of the fact that Lucid JUST introduced the Lucid Air Sapphire (3 motors, 1200HP, $250K)...
 
Uh-oh!;


"Rivian canceled the entry-level version of the R1T, effectively raising the price of its base model electric truck by over $6,000, according to an online forum for customers and later confirmed by the company.

The company said in an email to customers that it was canceling the base “Explore” model, which started at $67,500, in favor of the $73,000 “Adventure” trim. Customers can either upgrade to the more expensive trim level or cancel their orders, the company advised. Rivian has also “discontinued” the less expensive trim for its R1S electric SUV, which is expected to start shipping to customers later this year."

As a Pure ORDER holder, I hope that Lucid doesn't try the same $hit.
They said that it was because there weren't many orders for the Explore trim level compared to Adventure. They're saving costs by not having to source additional parts for a low number of vehicles. Pure doesn't have that problem, but Touring does.
 
As a Pure ORDER holder, I hope that Lucid doesn't try the same $hit
Not when a bulk of the current reservations are Pures. If Lucid was going to cancel any model it would be the Touring but highly doubt they’d do that.
 
I could be wrong, but don't Rivians have a lot more knick-knacks and minor options that lead to a lot of overhead? All of the Lucid trims are just about the same, with the major differences being the battery packs and motors (which are modular anyway)

I dont see why Lucid would cancel any trim given how much they share across all trims.
 
They said that it was because there weren't many orders for the Explore trim level compared to Adventure. They're saving costs by not having to source additional parts for a low number of vehicles. Pure doesn't have that problem, but Touring does.
That is what they SAID, but I don't believe this. I was interested in an Explore, until they tried their initial price hike - which was a fiasco. I think that this may be another.
 
That is what they SAID, but I don't believe this. I was interested in an Explore, until they tried their initial price hike - which was a fiasco. I think that this may be another.
I think it's because the car is priced wrong and the cash burn will only get worse when offering cheaper models.
 
It’s simple, really. It’s not worth it or loses $. Inflation happened, supply chain costs happened, price hike didn’t go well, so why not just cancel the whole shabang? Smart business decision? Maybe.
 
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