Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Rivian Pushes Deliveries of Models with Max Pack Until 2024

Published 10/31/2022, 12:59 PM
Updated 10/31/2022, 01:02 PM
© Reuters Rivian (RIVN) Pushes Deliveries of Models with Max Pack until 2024

By Michael Elkins

A Twitter account dedicated to Electric Vehicle news and reviews posted a screen capture of an email late last week. The email was received by a Rivian (NASDAQ:RIVN) R1T quad-motor Max Pack reservation holder and announces that the R1T electric pickup equipped with the company’s largest battery pack will not be delivered until 2024.

The email also said that deliveries of dual-motor R1Ts with the large battery would begin in the summer of 2023. Rivian apologized for the delay, explaining they are “working hard to ramp and deliver as many vehicles as possible.”

The Max Pack is Rivian’s largest battery offering as much as 400 miles of range on a full charge, but it has taken a back seat while the automaker prioritizes the production of EVs with smaller battery packs.

The reservation holder is advised to reconfigure his order if taking delivery in 2023, either by opting for the dual-motor version or downgrading to the smaller battery pack.

Shares of RIVN are up 2.61% in mid-day trading on Monday.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.