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Posted: 1/14/2023 11:30:57 AM EDT
[#1]
Quoted: Electric vehicle maker Rivian has seen several of its top executive leave the company, amid a testing time for the start-up. The company missed its 2022 manufacturing target of 25,000 vehicles by 700 cars, thanks in part to supply chain snarls that are plaguing the industry. Its stock has also plunged 79% over the past few months. The departures include the vice president of parts purchasing, the vice president of body and interior engineering, and a senior director in the strategy team. Rivian said it is now looking to take on new staff to increase production as it aims to grow its business. moaR ET THREAD A guy at work has one It’s pretty nice |
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Posted: 1/14/2023 11:34:08 AM EDT
[#2]
They're impressive vehicles.
Build quality is getting worse. Quality normally improves as production increases. https://insideevs.com/news/625957/rivian-build-quality-worse/ |
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Posted: 1/14/2023 12:03:18 PM EDT
[#3]
That is a trivial shortfall. Just goes to show that you should sometimes set your goals lowish then surpass them.
However, with those queer/faggy headlights fire everyone. |
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Posted: 1/14/2023 12:05:47 PM EDT
[#4]
Quote HistoryQuoted: That is a trivial shortfall. Just goes to show that you should sometimes set your goals lowish then surpass them. However, with those queer/faggy headlights fire everyone. It’s pretty fucking amazing short fall in the current climate. Sourcing anything has been hard the last two years. Chip shortages everywhere etc. supply chain issues due to all kinds of crap. That’s pretty fucking good. |
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Posted: 1/14/2023 12:06:47 PM EDT
[#5]
Maybe if they built a diesel 4x4 regular cab long bed with vinyl floors for $25k they wouldn’t be in this financial mess
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Posted: 1/14/2023 12:07:03 PM EDT
[#6]
They are made pretty close to me. Finally saw some of the SUV versions floating around.
That will help sales I think. |
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Posted: 1/14/2023 12:08:16 PM EDT
[#7]
Quote HistoryQuoted: Maybe if they built a diesel 4x4 regular cab long bed with vinyl floors for $25k they wouldn't be in this financial mess  Attached File |
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Posted: 1/14/2023 12:12:08 PM EDT
[#8]
I would bail as well. Big 3 and all the other makes are starting to release electric vehicles as well.
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Posted: 1/14/2023 12:12:20 PM EDT
[#9]
Trumpeting that they missed their production target by less than 3%? Reads like a piece written by someone shorting their stock.
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Posted: 1/14/2023 12:14:14 PM EDT
[#10]
Quote HistoryQuoted: Maybe if they built a diesel 4x4 regular cab long bed with vinyl floors for $25k they wouldn’t be in this financial mess 5 speed and I'm buyin' |
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Posted: 1/14/2023 12:17:55 PM EDT
[#11]
Quote HistoryQuoted: They are made pretty close to me. Finally saw some of the SUV versions floating around. That will help sales I think. Sales aren’t the problem, supply chain is the problem. They pay their bills faster than most according to some of the suppliers that buy from us. They also have a massive war chest of cash. |
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Posted: 1/14/2023 12:20:10 PM EDT
[#12]
Quote HistoryQuoted: That is a trivial shortfall. Just goes to show that you should sometimes set your goals lowish then surpass them. However, with those queer/faggy headlights fire everyone. Less than a year ago, Rivian's 2022 target was 50,000 vehicles. They didn't make half of that. https://www.cnbc.com/2022/03/10/rivian-rivn-earnings-q4-2021.html |
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Posted: 1/14/2023 12:20:22 PM EDT
[#13]
I am a product development engineer for one of the big automakers. Lots of supervisors and middle management were either forced out or let go about five years ago from our legacy company in order to cut costs and compete with the startup automakers. Many were scooped up by Rivian. They hit the jackpot. They got great pay/bonuses/stock. It appeared to be a startup money tree. I was a get rich quick job for skilled automotive midwesterners that were not used to startups. It will be interesting to see what happens, but it could never be sustainable unless the investors were willing to keep infusing money.
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Posted: 1/14/2023 12:25:31 PM EDT
[#14]
Quote HistoryQuoted: I am a product development engineer for one of the big automakers. Lots of supervisors and middle management were either forced out or let go about five years ago from our legacy company in order to cut costs and compete with the startup automakers. Many were scooped up by Rivian. They hit the jackpot. They got great pay/bonuses/stock. It appeared to be a startup money tree. I was a get rich quick job for skilled automotive midwesterners that were not used to startups. It will be interesting to see what happens, but it could never be sustainable unless the investors were willing to keep infusing money. Eventually, investors will learn that Rivian and Tesla are just automakers. Their stocks are currently valued as high-tech growth companies, not automakers. |
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Posted: 1/14/2023 12:30:39 PM EDT
[#15]
I could see the Dems funding it against Musk
Though I wish Elon would buy Russia and change the name of the capital city to Muskow |
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Posted: 1/14/2023 12:33:46 PM EDT
[#16]
Quote HistoryQuoted: They're impressive vehicles. Build quality is getting worse. Quality normally improves as production increases. https://insideevs.com/news/625957/rivian-build-quality-worse/ For a large company that’s launching a new vehicle or a new plant yeah, but not really how it works for a small growing company. Scaling operations is shockingly hard, it’s one of the reasons it was so incredible how well Tesla managed it. |
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Posted: 1/14/2023 12:40:24 PM EDT
[#17]
Rivian has numerous shift schedules with many being multiple 12 hr shifts before any days off. Such as 6 or 7 days in a row at 12 hrs each. Working at that rate causes burnout quicker with declining quality being a symptom. They aren’t a union shop so there is little employee protection but I haven’t seen an exodus of hourly people either.
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Posted: 1/14/2023 12:42:47 PM EDT
[#18]
Quote HistoryQuoted: Eventually, investors will learn that Rivian and Tesla are just automakers. Their stocks are currently valued as high-tech growth companies, not automakers. Rivian is. Tesla has a energy division and is also working on a industrial robot. |
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Posted: 1/14/2023 12:59:39 PM EDT
[#19]
Quote HistoryQuoted: Rivian is. Tesla has a energy division and is also working on a industrial robot. Quote HistoryQuoted: Quoted: Eventually, investors will learn that Rivian and Tesla are just automakers. Their stocks are currently valued as high-tech growth companies, not automakers. Rivian is. Tesla has a energy division and is also working on a industrial robot. |
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Posted: 1/14/2023 1:36:20 PM EDT
[#20]
Quote HistoryQuoted: Rivian is. Tesla has a energy division and is also working on a industrial robot. Quote HistoryQuoted: Quoted: Eventually, investors will learn that Rivian and Tesla are just automakers. Their stocks are currently valued as high-tech growth companies, not automakers. Rivian is. Tesla has a energy division and is also working on a industrial robot. About 99% of Tesla's sales are from their automobiles. And all automakers have industrial robots. |
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Posted: 1/14/2023 1:37:22 PM EDT
[#21]
Quote HistoryQuoted: Maybe if they built a diesel 4x4 regular cab long bed with vinyl floors for $25k they wouldn’t be in this financial mess No A/C, power steering or electric widows too right? |
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