Rivian Faces Challenges in EV Market

Researched by Industrial Info Resources (Sugar Land, Texas)--As the electric vehicle market has grown substantially in the past few years, there is still room for the larger vehicle end of the market, namely for pickup trucks, vans and SUVs.

Rivian Automotive Incorporated (NASDAQ:RIVN) (Irvine, California) seemed poised to capture a good share of that market, with production of three vehicles in that very market--the R1T electric pickup, the R1S electric SUV and the RSV electric commercial van, with the capability to produce up to 50,000 vehicles a year at its plant in Normal, Illinois.

However, it will only be producing about half that number this year, according to The Street.com. Continuing supply-chain disruptions are the apparent cause. This has eroded investor confidence, leading to a 78% drop in Rivian's share price from its November 15 high. This has led to changes in upper management--including the chief operating officer. The new chief operating officer will be tasked with sorting out these difficulties and getting production up to those stated levels.

Industrial Info is tracking two Rivian projects in the U.S., valued at $5.1 billion. These include new facilities and expansions. However, these projects may be at risk if these production difficulties continue.

Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for a list of detailed project reports.

In all, Industrial Info is tracking more than $17 billion in electric vehicle project investments in the United States. Subscribers can click here for the project reports.

Click on the image at right for a chart showing U.S. electric vehicle project investments by the top 10 states.

Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.