Rivian CEO on rising pricing, commercial van ‘pipeline’

The company is losing $31,000 for each car, although the difference is closing.


The CEO of Rivian Automotive Inc. stated that the average sales price of the company’s electric vehicles is rising as a result of new orders.


After Rivian’s four-year exclusivity agreement with Amazon.com Inc. ended, CEO RJ Scaringe told Bloomberg TV in an interview on Wednesday that his company is in talks with a “pipeline” of possible customers for its battery-electric vehicles. However, he did not offer any additional information.


In the interview, Scaringe stated, “Our average selling price is evolving and is trending upward as we take on new orders.”


Scaringe also talked about how its losses per electric vehicle (EV) are being reduced, which are currently $31,000.


Read More: Rivian Achieves Increased Guidance and Terminates Amazon Van Exclusivity


“Our bill of materials, improvements to our plant, and the fixed cost absorption from operating higher volumes in the plant are just a few of the changes that are happening in our material costs,” he stated.


By 2030, Rivian intends to fulfill its first agreement with Amazon to supply 100,000 trucks to the massive online retailer.


Scaringe stated that he anticipates the EV manufacturer revealing an R2 compact SUV prototype in the first half of 2024. Additionally, he stated that the company plans to begin booking money in the upcoming year from software and autonomy technologies.

No leads were lost. reduced overhead.
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