second-generation R1 electric SUVs and pickups will be 20 per cent lower than the current version, CEO RJ Scaringe said on Thursday, after it overhauled its manufacturing plant and removed vehicle parts to slash cost.
. Rivian shut down its plant at Normal, Illinois for three weeks in April to make the changes, including simplifying processes and removing equipment at the facility, and removing over 500 parts from the vehicles in an effort to make them cheaper to build. The company’s presentation during investor day also teased five new models under wraps, with three vehicles under the “affordable mass market” category.
Wall Street had expected quarterly deliveries of 10,282 units and production of 9,369 vehicles, when the company reports quarterly figures on July 2, according to analysts polled by Visible Alpha.