📊 2022 Q4 and Full-Year Earnings Results & Shareholder Letter: 50K production goal for 2023, ~400 Mile Range for Max Pack

[dleewla]

https://assets.rivian.com/2md5qhoea...ef8378f/Rivian_Q4-2022_Shareholder_Letter.pdf

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[kanundrum]

 

[Dark-Fx]

First mention I've seen about the R1S Max pack since they started the configurator. No real details other than a 390 mile range target.

 

[dleewla]

i wonder when the LFP batteries will be available.

 

[Redline]

Well not thrilled with the guidance of 50k vehicles, but interesting to hear about the LFP and allowing the max pack to current holders. I might be tempted to switch to the max pack dual motor vs the current large pack quad.

 

[Dark-Fx]

i wonder when the LFP batteries will be available.

My estimate has always been 1H2024 on the LFP for R1. They're putting them into the amazon vans as a priority.

 

[jplblue]

Numbers for the LFP look pretty good. It would have longer "everyday" range vs large packs since LFP can be charged to 100%.

 

[dleewla]

Numbers for the LFP look pretty good. It would have longer "everyday" range vs large/max packs since LFP can be charged to 100%.

yup, exactly why i would be interesting in getting my R1 with LFP but my vehicle will probably be ready before LFP is.

 

[theyoungone]

First mention I've seen about the R1S Max pack since they started the configurator. No real details other than a 390 mile range target.

It’s gonna be a long wait for that one just watch

 

[kanundrum]

 

[Guy]

50k is a low target since they were already at c.40k based on Q4 and 48k based on expected December production. I hope they set an easily achievable target and then raise it throughout the year to get a stock bump. Otherwise this demonstrates a lack of ambition.

 

[zipzag]

Looking more like max pack is simply cell energy density.

 

[jjswan33]

50k is a low target since they were already at c.40k based on Q4 and 48k based on expected December production. I hope they set an easily achievable target and then raise it throughout the year to get a stock bump. Otherwise this demonstrates a lack of ambition.

Keep in mind it's not just Rivian that needs to ramp their factory but every supplier. So while Rivian could potentially ramp faster a single weak link and they would miss their target.

 

[Dark-Fx]

Really curious how they are going to do it, though I haven't looked under the R1S with the panels off like I have the R1T.

 

[uthatch]

Interesting read. No real surprises in there other than the R1S Max, but as far as financials go it's about what was expected. They've got work to do to survive, but it seems like they are doing it. I'm hard pressed to believe they'll be operationally profitable in 2024.

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