EV maker Rivian Automotive Inc (NASDAQ:RIVN) on Saturday said that its all-electric service vans will hit the roads in the coming weeks.
There will be more than 200 Rivian Service Vans (RSV) by year-end, the company said in a statement. These vans will meet the service needs of over 35,000 Rivian vehicles.
Services provided by the vans will include maintenance, repair, and vehicle-to-vehicle charging, among others. The vehicles are equipped with a wheel balancer, automated tire changer, air compressor, hydraulic jack and stands, 240V outlet to enable vehicle-to-vehicle charging, and other tools and parts.
“Introducing RSV to the mobile service fleet allows us to continue to lead with a mobile-first strategy, delivering high-quality and convenient service to our customers sustainably,” said Rivian Sr. Program Manager of Mobile Service Operations Grady Robbins.
Earlier this month, Rivian reported first-quarter revenue of $661 million and a loss of $1.25 per share, ahead of Street estimates of a loss of $1.59 per share. It reported production of 9,395 units and 7,946 deliveries.
The company now aims to produce 50,000 units in 2023 including nearly 100 R1T trucks. The company is eyeing raising production numbers further in 2024 and hitting positive gross profit.
Rivian received investments from Ford and Amazon at a combined investment of $1.2 billion.
The company is headquartered in Irvine, California with a manufacturing plant in Normal, Illinois that was once a manufacturing plant for Mitsubishi Motors.
Other than the Amazon vans that Rivian is producing, the company produces two difference passenger vehicles which is a truck and an SUV.
The Rivian R1T is the truck that Rivian produces that competes with the Ford F-150 Lightning and the GMC Hummer EV truck, which are the only other EV trucks in the market that compete with Rivian. The Chevrolet Silverado EV, GMC Sierra EV, Tesla Cybertruck, and Ram 1500 REV are expected to go sale within the next two years as the truck segment expands in the EV market.
Rivian’s R1S is the body-on-frame SUV version of the R1T that share the same chassis. It currently competes with the GMC Hummer EV SUV, Tesla Model X, Tesla Model Y, and the Audi Q8 e-tron.
Amazon had ordered over 100,000 EV vans from Rivian in 2022 as the company plans to have a fleet of zero emission by 2040. The company has added thousands of charging stations by their warehouse facilities.
The company is in perfect position as California passed a law to stopping the sale of fossil fuel cars by 2035 as the state expands on charging station.
The Amazon Rivian delivery vans will be found in over 500 cities across the United States.
Produced in association with Benzinga
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