On October 1st, Rivian submitted its IPO filing (S-1) to the United States Securities and Exchange Commission (SEC). Here are a few interesting points that I found to share with you:
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As of September 30th, 2021, Rivian has approximately 48,390 pre-orders for the R1T and R1S in the United States and Canada. Customers have paid a fully refundable deposit of $1,000;
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The exact share percentages of Amazon and Ford (both of which disclosed they each own 10% or more of Rivian in a previous legal filing) are not currently available, but it is likely that Amazon now owns at least a quarter of Rivian;
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Ford provides Rivian with the whitebody for its three models. Rivian signed an agreement with Ford in April of this year to purchase “certain vehicle components”;
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Rivian lost $426 million in 2019, $1 billion in 2020, and $994 million in the first six months of 2021;
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Rivian plans to earn $15,500 per vehicle over the entire lifecycle through software services, with $10,000 coming from its advanced driver assistance system, which is the same price as Tesla’s FSD;
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Rivian hopes to control insurance and service aspects as well, believing that each vehicle can earn $8,700 and $3,500 respectively from these products. With revenue from trade-ins, resale, and charging, each vehicle is expected to earn up to $70,000 over its lifecycle.
Delivery Time
As for Rivian’s delivery time, no specific confirmation has been provided by the company yet, but Rivian will proactively contact pre-order owners before November.
My personal speculation is that it will very likely be earlier than the delivery time of the Ford F-150 Lightning (spring 2022), making Rivian the “first mass-produced electric pickup truck”.
🔗 Source: S-1
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.