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Rivian hyperlinks provide chain woes to ongoing Ukraine-Russian battle

Rivian hyperlinks provide chain woes to ongoing Ukraine-Russian battle

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In its 10-Ok submitting on Thursday, March 31, Rivian acknowledged that the continued Russian invasion of Ukraine has impacted its enterprise and operations.

Rivian famous that its potential to develop and manufacture autos of adequate high quality on time and at a big scale remains to be unproven. The corporate listed the battle in Ukraine as one of many causes it continues to wrestle with manufacturing.

“We’re at the moment working in a interval of financial uncertainty, capital markets disruption, and provide chain interruptions, which have been considerably impacted by geopolitical instability as a result of ongoing navy battle between Russia and the Ukraine. Our enterprise, prospects, monetary situation, outcomes of operations, and money flows could also be materially adversely affected by any destructive impression on the worldwide financial system, capital markets, or provide chain ensuing from the battle within the Ukraine or some other geopolitical tensions,” wrote Rivian.

Rivian overtly admitted that it skilled price will increase and disruptions within the provide of uncooked supplies and different parts utilized in car manufacturing. The EV producer expects to see uncooked materials value hikes and provide disruptions sooner or later. Rivian famous shortages and provide delays in sure components, together with semiconductors, within the regulatory submitting. It additionally highlighted seeing “sizable will increase” in the price of metals, like lithium, nickel, aluminum, and cobalt.

Rivian means that elevated prices and the decreased availability of sure metals, like lithium, nickel, and cobalt, have additionally strained the battery cell provide chain. The corporate talked about dangers in battery cell pricing and availability. It famous points with battery cell producers’ “incapability or unwillingness” to function or construct battery cell manufacturing crops to fulfill the provision calls for of electrical or plug-in car manufacturing. It additionally listed a “disruption within the provide of battery cells resulting from high quality points or recollects” by battery producers.

“Our enterprise relies upon largely on our potential to develop, manufacture, market, and promote our autos. Our preliminary deliveries for the R1T and R1S had been delayed, and our manufacturing ramp is taking longer than initially anticipated resulting from quite a few causes,” Rivian wrote in its latest 10-Ok submitting. “The cascading impacts of the COVID-19 pandemic, and extra lately the battle within the Ukraine, have impacted our enterprise and operations from facility development to tools set up to car element provide.”

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Rivian hyperlinks provide chain woes to ongoing Ukraine-Russian battle








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