The results of the manufacturer of electric vehicles Rivian continue to be quite disappointing, with losses of 1.7 billion dollars in just three months, from April to June, and more than 5.5 billion in the accumulated year-to-date. However, all this does not seem to worry the owners of the company excessively.
According to experts and investors, who also agree with Rivian’s upper echelons, these alarming results (Rivian’s shares fell more than 50% between January and June) do not pose any danger when the brand has 15.5 billion dollars in cash and almost 100,000 accumulated orders.
“For Rivian, so far everything is going well,” said James Womack, a fellow at MIT (in Spanish, Massachusetts Institute of Technology). In fact, he believes that if Rivian had opened its Georgia (USA) plant they could have lost more money.
One of the objectives that Rivian has between eyebrows is to install a plant in Georgia for a value of 5,500 million dollars, which could produce 400,000 vehicles a year. Although for now the firm is focused on continuing to rebuild an old Mitsubishi factory in Normal, Illinois.
“We believe that Rivian is in an excellent position to capture the massive influx of current and future demand for electric vehicles,” Wedbush analyst Daniel Ives said last Friday, as reported by CNN.
Ives points out that Rivian is on track to meet its goal of producing 25,000 vehicles this year as evidence that it is beginning to shift its policy. It is true that this figure has nothing to do with the production of Tesla (930,422 cars in 2021), its great rival, but it is significant growth since Rivian produced only 1,015 cars in 2021.
From Rivian they believe that at this stage there are other elements to focus on, to the detriment of income and losses. They refer to their electric models and, above all, how they make consumers feel.
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