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Tim-in-CA

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thedole

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It's surprising to me they'd rush to launch the IPO at a time when all of their orders are getting delayed.
Tough one. Definitely a good time to IPO an EV company valuation wise. Even though it may not be the best time for Rivian specific news It's probably better to get some money while the market is hot.
 

atlastracer

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Meanwhile in Canada....

Rivian Website: https://rivian.com/support/article/when-do-deliveries-in-canada-start

Deliveries for Canada will begin in November 2021 for Launch Edition vehicles. Deliveries for Adventure and Explore equipment packages will begin in January 2022.
Rivian CS:

We have not shifted our delivery dates for our Canadian market, and we still plan on beginning deliveries in November 2021 for both of our Launch Edition R1T, and R1S preorder holders.
Also Rivian (S1):

We plan to launch and commence customer deliveries for the R1S, a three-row seven-passenger sports utility vehicle (“SUV”) in December 2021 following the completion of ongoing vehicle validation and all required testing. By the end of 2021, we intend to produce approximately 1,200 R1Ts and 25 R1Ss and deliver approximately 1,000 R1Ts and 15 R1Ss.
Canada Motor Vehicle Safety Standards (“CMVSS”) administered by Transport Canada. .... Prior to distributing any of our vehicles in Canada, Rivian will ensure that such vehicles are modified to conform with CMVSS. We expect to complete all CMVSS confirmatory testing and provide an application for certification to Transport Canada by February 2022.

I think some content updates are required on the support site and the CS playbook.....
 

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Dbeglor

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Meanwhile in Canada....

Rivian Website: https://rivian.com/support/article/when-do-deliveries-in-canada-start



Rivian CS:



Also Rivian (S1):






I think some content updates are required on the support site and the CS playbook.....
Indeed, far from a well-oiled machine. The chain of priority for believing what you see/hear:

  1. S1 or other future official filings
  2. Email from RJ himself
  3. Other official corporate communications via email, social media, etc.
  4. Rivian Website
  5. Guide/Customer Service
They won't always jive, so anything from higher in the list automatically supersedes anything below it, no matter how many times a Guide/CS bot repeats it.
 

SeaGeo

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Dbeglor

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Tough one. Definitely a good time to IPO an EV company valuation wise. Even though it may not be the best time for Rivian specific news It's probably better to get some money while the market is hot.
It loosely follows the adage, "Better to remain silent and be thought a fool than to speak and to remove all doubt".

If you can get what you need now, get it done before anything has the chance of messing that up. Another adage, "time kills all deals".
 

atlastracer

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Indeed, far from a well-oiled machine. The chain of priority for believing what you see/hear:

  1. S1 or other future official filings
  2. Email from RJ himself
  3. Other official corporate communications via email, social media, etc.
  4. Rivian Website
  5. Guide/Customer Service
They won't always jive, so anything from higher in the list automatically supersedes anything below it, no matter how many times a Guide/CS bot repeats it.
100%. I am fully not expecting to see my R1S (despite a 26xx order number) in Canada until March/April 2022 at earliest.
 

Driveout

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How many companies can you count one one hand who's sole purpose is to change, let alone help save the world?!? ✌❤⚡??
If that is the standard then the award should go to Tesla. Rivian's purpose will be to satisfy the investors, be certain of that. All the manufacturers below are delivering cars now, today and therefor are having a climate impact even though most still make ICE.

Tesla
Ford
Volkswagen
Hyundai
Kia
Chevy/GM
Nissan
Polestar
Neo
Xpeng
Mini
BMW
Volvo
Jaguar
Porsche
Audi
There are probably many more that I missed but the answer is clear. There is only one chance to make a first impression. People always remember their first kiss, their first child's birth, their first car... If the first kiss results in a chipped tooth, the dr. drops your child, the first car constantly leaves them stranded then those memories are forever too. Their first Rivian? There's a lot of disappointment here, justifiably. I would have much less of that if Rivian management kept "their" promise to communicate. It's not that hard. This feels like we are unimportant outsiders. There will be other players soon enough and The Rivian Team need to establish a good foundation of trust and competence to compete in what will be a hot segment. I can forgive the delay...again. It's getting much harder to forgive the managerial blind foolishness to those wishing to support an unknown start-up. Think carefully about the IPO, remember the tech bubble...
 

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nukem384

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The slow ramp is likely dead since supply chain delays don’t necessarily stop the engineers. The extra time can be a benefit, especially with the beta trucks out in the wild and RIVN can still be perfecting the production line and working on improvements like the max pack while the lines sit idle. If the supply chain ever clears up they should be able to crank up production quickly.
I really hope so. These trucks and SUV's are so cool, but if nobody can drive them, it's no fun!
 

888tom888

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Supply constraints is the en vogue term being used today. Some how the trade war between US and China has China artificially constricting supply chain for semi conductor parts. Companies aren't fighting it because in the end they artificially inflate the prices of materials which then gets passed down the supply chain to all consumers. I have two other businesses and a great many of my supplies come from China and what used to take 2-3 months is now 6-8 months. Living in LA, I see an ocean traffic jam of containers sitting out of the ports just waiting to get in and off loaded. Couple that with not enough truck drivers and some drivers owning rigs that don't meet emissions standards and you have bottle neck after bottle neck. My Nov 19 R1S order probably won't show up until end of 22. Not sure I'll wait that long. Lots of other intriguing new comers to consider. 2022 will be the year manufacturers intro more models than ever. Lots of choice. Right now, I'm liking the Caddy.
 

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yizzung

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Wow. This is a pretty nonsense argument IMO, I am sure you will go on a rant based on history of your posts.

Bottom line is this, companies have a TAM (Total addressable market) they want to capture as much of that market as possible, if customers cancel and buy a competitor vehicle that is business they cannot recapture. Sure they may be capacity constrained and will be able to sell all the vehicles they make but I guarantee they don't want to lose orders.
My "history" LOL. You've been on this board for a month...

Please enlighten the crowd with your corporate strategy tips for capturing TAM when the warehouse is full of air? When you have 50K orders and nothing to hand over to the customer? What is that formula? I'll wait. Is it MORE communication about how the warehouse is still full of air and there's still nothing arriving in your driveway this week or next?

You don't have a (good) answer because there isn't a solution, other than to build as fast as you can before your competitors take the share. That's exactly what is happening, we assume. It's just not fast enough for SOME people around here (who strangely keep saying that they're totally fed up but never seem to leave and never seem to ask for their deposits back and mostly just complain).

You act like we're in this fantasy world where there are ten other comparable options out there but those options are either existing ICE or vaporware. You're completely failing to understand the CURRENT power structure: Rivian has some (because they've crafted a thing that many people seem to really want) and you/I individually have very little (because you/I represent at this stage only the potential of revenue, not actualized revenue).

Rivian knows that some people are going to cancel. 50K pre-orders are not going to convert into 50K sales. They've modeled this extensively. Every sneak peak, test drive, Motor Trend article, employee shipment, etc. is designed to keep as many of those pre-order holders hanging on.

But some are going to drop. That's reality. They aren't going to be surprised. Or sad. Or beg you to get back in line. They aren't stupid. I'm sure they are mystified that some people have been waiting for 3+ years. I'm sure they would have loved to satisfy that demand last year, year before last. They can't yet. That's reality.

Do you remember the years of people lining up outside in the rain, waiting days to get a new iPhone? Do you remember the Samsung commercials making fun of those people? It's the same thing. All of those people could have gotten out of line and walked across the street to the T-mobile and avoided the whole deal.

If people are so miserable in this line, just get out of the line. Instead some people would rather stay in the line but constantly remind everyone around them about the injustice of it all. It's boring. Rivian knows exactly how many people have gotten out of the line and they also know how many have eagerly stepped into the back of it. They aren't stupid.

(Spoiler alert: Apple seems to have done ok making people wait in the rain...) Rant over.
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