General EV Conversation
no idea what you're talking about, but that's nothing new.
where the 'rage click stuff', this article contains actual quotes from actual police in multiple locales. the reason i posted it though is because there have been numerous discussions in this forum about ev's used for police vehicles. this article may be garbage to you (because anything critical of tesla triggers you), but it was about that topic, so i thought i'd share.
i'm sure the tesla model y was not designed for policy duty, but that doesn't mean there won't be a tesla better suited to it at some point. the point in the article about not having enough front seat room for officers wearing all their gear seems like a valid issue, but i wouldn't know, as i'm not a police officer.
moving along...
i'm sure the tesla model y was not designed for policy duty, but that doesn't mean there won't be a tesla better suited to it at some point. the point in the article about not having enough front seat room for officers wearing all their gear seems like a valid issue, but i wouldn't know, as i'm not a police officer.
moving along...
Lexus Fanatic
Joined: Sep 2010
Posts: 25,911
Likes: 4,269
From: Alberta
Went down a Rivian rabbit hole.
https://rivian.com/newsroom/article/...-grand-opening
Sounds good.
And then...
https://www.constructionkenya.com/12...t-put-on-hold/
https://finance.yahoo.com/news/rivia...180520055.html
IMO this signals to me R.J. doesn't have the slightest idea how to build a factory or even begin to reach break even point. I wish the company well but there are multiple warning signs.
https://rivian.com/newsroom/article/...-grand-opening
At this time, the upper pad is 95 percent graded and is nearly ready for construction to begin. Rivian expects to hold a formal groundbreaking ceremony in early 2024, with start of vertical construction to begin thereafter.
And then...
https://www.constructionkenya.com/12...t-put-on-hold/
Electric vehicle maker Rivian halted construction of its $5 billion production plant in Stanton Springs, Georgia, in March 2024, after a $5.4-billion annual net loss.Chief executive R. J. Scaringe told investors that the EV-only producer had decided to pause the project to focus on cost efficiency and long-term growth.
Rivian’s upcoming models—the R2 and the R3—were slated to be produced in Georgia with an arrival time of 2026. However, they will now be assembled at the existing plant in Illinois.
Rivian unveiled two new EV models in March 2024. PHOTO | GETTY IMAGESElectric vehicle maker Rivian halted construction of its $5 billion production plant in Stanton Springs, Georgia, in March 2024, after a $5.4-billion annual net loss.
Chief executive R. J. Scaringe told investors that the EV-only producer had decided to pause the project to focus on cost efficiency and long-term growth.
Rivian’s upcoming models—the R2 and the R3—were slated to be produced in Georgia with an arrival time of 2026. However, they will now be assembled at the existing plant in Illinois.
According to Scaringe, this will allow Rivian to bring the R2 to market quickly.
“It would also save $2.25 billion in capital spending,” he said in a press release.
Rivian’s upcoming models—the R2 and the R3—were slated to be produced in Georgia with an arrival time of 2026. However, they will now be assembled at the existing plant in Illinois.
Rivian unveiled two new EV models in March 2024. PHOTO | GETTY IMAGESElectric vehicle maker Rivian halted construction of its $5 billion production plant in Stanton Springs, Georgia, in March 2024, after a $5.4-billion annual net loss.Chief executive R. J. Scaringe told investors that the EV-only producer had decided to pause the project to focus on cost efficiency and long-term growth.
Rivian’s upcoming models—the R2 and the R3—were slated to be produced in Georgia with an arrival time of 2026. However, they will now be assembled at the existing plant in Illinois.
According to Scaringe, this will allow Rivian to bring the R2 to market quickly.
“It would also save $2.25 billion in capital spending,” he said in a press release.
Georgia plant won't start rolling out cars until 2028
The point of delaying GA was to 1) reduce cash burn 2) get R2s to market earlier 3) build a test line for R2s before committing to full scale production in GA. Given their cash position at the start of the year and the price of borrowing at that time, delaying GA was the right move and saved 2.5B. R2 line in Normal is expected to produce up to 155K vehicles per year when it's fully operational which will give them enough volume while getting GA up to speed.
Now they have an additional 12B in funding via VW and this loan and can setup v2 of the line in GA instead of staking the entire company on v1 of the line
Now they have an additional 12B in funding via VW and this loan and can setup v2 of the line in GA instead of staking the entire company on v1 of the line
Lead Lap
Joined: Jul 2007
Posts: 4,438
Likes: 597
From: SC
Lexus Champion
Joined: Oct 2019
Posts: 19,429
Likes: 3,657
From: California
You never know, that's what people said about the GM bailout. That said, I'm not for bailouts, they should have let GM sort it out on it's own or die trying
Last edited by AMIRZA786; Nov 27, 2024 at 08:53 AM.
Lexus Fanatic
Joined: Nov 2011
Posts: 35,274
Likes: 305
From: ON/NY
Lexus Champion
Joined: Oct 2019
Posts: 19,429
Likes: 3,657
From: California
if any chart belongs in r/dataisugly it's that one. Rivian's been shipping cars since 2021. Tesla has been shipping cars 2012 (gen 1 roadster excluded). Economic conditions have substantially changed from 2012 to 2021 and I'm not surprised to see FCF or net profits to be much worse than Tesla at similar stages of their launches. If RJ is able to get a gross profit in Q4 I'll be pleasantly surprised. Is their cash burn going to continue to be an issue? Absolutely! They're running 2 lines (EDV & R1) and are going to work on the R2 line. But they've locked in an additional 12B in funding, have been steadily cutting their losses each quarter, and have 2 really good products on consumer market.