Electric vehicle startup Rivian is now up and running. The company began producing its first consumer vehicle, the R1T, on September 14th. While production may be going, it is going rather slowly according to a new SEC filing.
Rivian recently filed an amendment to the company’s S-1 with the SEC. In this filing the company says it had produced 12 R1T’s as of September 30th. Subsequently, the filing also states Rivian has only produced 56 R1T’s as of October 22nd. For those doing the math, this means Rivian is producing about two R1T’s per day since starting production. Of the 56 R1T’s, 46 of them have been produced.
A quick glance on social media suggests most of the 46 deliveries have been to Rivian employees. This isn’t a huge surprise since these folks were among the most early orders and the company is likely using them as “friendly” testers.
While a slow ramp-up to producing an all-new vehicle is not unusual, this seems painfully slow. It’s also unclear when Rivian will begin to scale up production further. Given the organization has over 48,000 reservations for its R1T and R1S models, it clearly is going to have to build more than two vehicles per day to satisfy the backlog in a reasonably timely fashion.
Rivian is also expected to commence production of its R1S SUV model in December, with deliveries starting in January. The company also aims to start producing its 500 and 700 Vans for Amazon in the same month.