Global supply chain issues continue to wreak havoc on companies, making it hard to fulfill orders and causing continued delays in production. Making it difficult for some to compete and forcing others out of the market completely. Rivian, an EV company that has barely been able to get any vehicles off its production line is one of these companies facing such delays.
Now, include the issues with rapid inflation and things get even stickier for the company. So much that it has had to prioritize certain builds over others in order to build anything at all. This is causing various delays in production that trickle down to the customers patiently waiting for their orders.
Some of these delays include as much as an additional 9 months before vehicles will be delivered. While others aren’t feeling it as bad, with as little as a month added to the wait. Regardless, the effects of inflation and all of these supply chain issues are more than present.
It doesn’t help that Elon Musk (Tesla CEO) is taking to social media to share his own opinions about the future of Rivian, as well as Lucid Motors, another EV company trying to get on its feet. Elon feels that the companies are on a road toward bankruptcy unless they can lower costs. While also sharing that he hopes both companies come through it all.
Sadly, these issues affect so many companies around the world. As mentioned, some of them being forced to close their doors. As for the EV industry, this is a major issue as it is an important time for companies to get into the market and obtain a piece of history as it shifts away from gas engines.
Here’s hoping that Rivian is able to pull through and make things happen. Despite Elon’s own opinions, even Tesla has had to raise costs in order to keep up with inflation, while also laying off around 10% of salaried employees. So Rivian and Lucid Motors aren’t the only ones in need of having to reduce costs.