On April 6, foreign media outlet reported that Rivian produced more than 2,553 vehicles in the first quarter of this year and is expected to achieve a production target of 25,000 vehicles this year. Rivian CEO RJ Scaringe has previously said that Rivian's production rate has exceeded the supplier's increase in production, and if it were not for the supply chain drag, Rivian's production could exceed 50,000 vehicles this year.
Rivian's R1T is one of the few electric pickup models on the market, Tesla's Cyberruck has repeatedly jumped tickets, and the main competitor of R1T is basically Only Ford's F150 Lightning, but the R1T was launched much earlier and also gained some target users.
Pickup truck models have both commuting and cargo capacity, very popular in the United States, but pickup truck models will generally be equipped with high horsepower, fuel consumption is very high, coupled with the recent international oil prices have risen sharply, the cost of fuel pickup trucks is getting higher and higher, there are more and more American families want to replace the fuel pickup truck at home with an electric pickup.
With the changes in the international situation, the price of bulk commodities such as lithium ore is also rising, resulting in rising BOM costs of automobiles, and models such as electric pickup trucks have been in a state of short supply. On March 4, the US electric vehicle company Rivian made a sharp price increase on its electric pickup truck models on Tuesday, and the price increase also applied to orders placed several years ago, resulting in large-scale cancellations by customers. Subsequently, under the pressure of public opinion, CEO RJ Scaringe issued an apology letter, saying that customers who had previously placed orders could buy at the current price.
This shows that Rivian is under a lot of pressure on the cost of manufacturing the car, which affects Rivian's operating profit. An important factor for Tesla's rapid development is its high gross profit margin. Its gross profit margin can reach 20-30%, which is far beyond the level of traditional car companies. If Rivian wants to develop rapidly, it should try its best to increase gross profit margins as soon as possible, which is the key to the survival of a start-up car company.
After Rivian's success in subdividing the field of electric pickup trucks, it will also enter the family car market and will compete head-on with Tesla, and the competition in the field of home electric cars will become more and more fierce.