Talk about delayed gratification.
Deliveries of the Rivian R1T truck began several weeks ago but what about its sister ship, the R1S SUV? Just last month we reported that First Edition reservation holders had been informed that delivery was being pushed back until May 2022. Other future owners claim they've been told the date might not be until June or July. What's really going on here? There are clearly some production delays but Rivian has now confirmed R1S deliveries have commenced. Kind of.
This past week, a grand total of two examples were delivered. However, the carmaker did not disclose the owners' identities. Are they Rivian employees or private customers?
UPDATE: The below tweet from Rivian indicates that company bosses are the first to receive the R1S.
Rivian was probably purposely being a little vague on the matter. So it appears mass production has not yet gotten underway but rather a very limited number of units. Still, this is good news for longtime reservation holders. They've only been able to watch R1T truck customers receive their vehicles while an empty space remains in their garages.
Rivian was never expected to produce a large number of its three-row SUV this year. It's still ironing out general assembly line issues. This could be why it failed to meet third-quarter production goals, which sent its stock tumbling this past week.
It's important to understand that Rivian's main goal for 2021 was not production but rather the completion of certification for its three models. Wait!? There's a third Rivian? Yes, the delivery van made exclusively for Amazon, its chief investor. Another key goal was getting its sales program up and running. And, of course, an IPO, which happened last month.
With all three objectives met, 2022 is all about cranking up production volumes at its Normal, Illinois production plant. By 2024, it aims to be building vehicles at a second facility, the just-announced $5 billion plant set to be built in the state of Georgia.