Rivian Issues Massive Recall

    March 1, 2023
    Rivian Electric Pickups 63ffae5c4a6a3

    Rivian is recalling more than 12,000 of its electric vehicles, according to news reports, which is 89 percent of the pickup trucks and SUVs produced through September 2022.

    The recall covers a faulty sensor in the passenger seat. The company corrected the problem on vehicles built after September.

    The company also released fourth quarter results, reporting a net loss of $1.7 billion, compared with $2.5 billion for Q4 2021. Sales in the quarter were $663 million on the delivery of 8,054 vehicles.

    Total fiscal 2022 revenue was $1.7 billion on the sales of 24,337 electric pickup trucks and SUVs. The company reported $12.1 billion in cash, cash equivalents, and restricted cash at the end of the fiscal year.

    For 2023, the company said it would focus on:

    • Ramping production of both the R1 and RCV platforms
    • Driving down costs
    • Delivering an “outstanding” end-to-end customer experience
    • Developing future technologies and the R2 platform

    Source: Rivian

    About the Author

    Rod Sutton

    Sutton has served as the editorial lead of Construction Equipment magazine and ConstructionEquipment.com since 2001. 

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