Core Insights - Rivian is considering a redesign of the door handle for its next-generation vehicle, the R2, which is set to go into production in the first half of next year [1] - The redesign focuses on the manual latch or release mechanism that passengers would need to use if the electric system loses power, addressing safety concerns raised about the current R1 model [1][3] Design Changes - The current design of the manual release for the R1 has been criticized for being located in an inaccessible area of the rear doors, making it difficult for users to find in emergencies [2] - Rivian staff have acknowledged that the design changes made in the R1 may pose a potential safety risk, as the cable release is not intuitive to locate during an emergency [3] Internal Acknowledgment - There is an internal recognition among Rivian's engineering teams and executives that the design changes implemented in the R1 were a mistake, prompting the need for revisions in the upcoming R2 model [4]

Core Insights - Tesla and Rivian reported third-quarter vehicle deliveries exceeding consensus estimates, with Tesla delivering approximately 497,000 vehicles (up 7% year-over-year) and Rivian delivering 13,200 vehicles (up 32% year-over-year) [2][4] Tesla - The third-quarter deliveries for Tesla surpassed Goldman Sachs' estimate of 455,000 vehicles, indicating strong demand potentially driven by the impending expiration of the federal EV tax credit [2][5] - Tesla's US sales are estimated to have increased by over 10% year-over-year, although sales in Europe and China experienced a year-over-year decline [6] - The expiration of the federal tax credit is expected to create a "double-digit percent headwind" for the market in upcoming quarters, but new vehicle launches, such as the Model Y L and lower-cost models, may provide a significant tailwind [4][6] - The price target for Tesla has been raised from $395 to $425, maintaining a Neutral rating, with the increase attributed to strong performance in the US market [5][6] - Key topics for Tesla's future include vehicle delivery outlook, automotive margins, advancements in robotaxis and Full Self-Driving (FSD), and growth in Tesla Energy and other segments [7] Rivian - Rivian's third-quarter deliveries of 13,200 vehicles slightly missed Goldman Sachs' estimate of 13,950 but exceeded the consensus estimate of 12,700 [2][8] - Rivian has adjusted its full-year delivery guidance down by 500 vehicles at the midpoint, now implying 42,500 vehicle deliveries, which aligns with Goldman Sachs' estimate [8] - The analyst maintains a Neutral rating on Rivian with a price target of $15, emphasizing the importance of increased volumes, margins, vertical integration, cash burn, and supply chain management as key focus areas [9] Stock Performance - Tesla's stock is down 2.2% to $426.45, with a year-to-date increase of 12.4% [10] - Rivian's stock is down 0.7% to $13.44, with a year-to-date increase of 1.4% [10]

Breaking news from Bloomberg Tech's Ed Ledllo. He is reporting that Rivian is reworking its doors after employees and customers raised concerns over potential safety issues with the current design in the R2, which is their nextG vehicle going into production at some point in the first half of next year. There's been a rethink on the manual latch or release that a passenger in the front or rear seats would need to use in the event that the electric system loses power.And what sources told us is that on their ...

Group 1 - The core viewpoint of the article highlights a decline in U.S. electric vehicle stocks on Friday, with notable drops in major companies [1] Group 2 - Tesla (TSLA.US) experienced a nearly 2% decrease in stock price [1] - NIO (NIO.US) saw a decline of 3.8% [1] - Li Auto (LI.US) dropped over 4% [1] - Xpeng Motors (XPEV.US) fell nearly 5% [1] - Rivian Automotive (RIVN.US) decreased by 0.7% [1] - Lucid Group (LCID.US) experienced a slight decline [1]

Rivian is reworking a key element of its vehicle doors after employees and customers raised concerns over potential safety issues with the current design, sources say https://t.co/AadOAPPAlF ...

Core Insights - The electric vehicle (EV) market in the United States is experiencing significant challenges, impacting companies like Rivian Automotive Inc. [1] Company Summary - Rivian Automotive Inc. is a small player in the EV sector facing difficulties as the overall market declines [1] Industry Summary - The U.S. electric vehicle industry is currently in a state of disarray, which poses risks for emerging companies like Rivian [1]

Core Viewpoint - Rivian has revised its delivery expectations for electric vehicles, projecting a decrease in deliveries by nearly 16% compared to the previous year, with a target of no more than 43,500 vehicles by the end of 2025 [1][4]. Group 1: Delivery and Production Data - Rivian's third-quarter delivery reached 13,201 vehicles, an increase from 10,661 in the second quarter and 8,640 in the first quarter, indicating a recovery from a slow start earlier in the year [3]. - The company produced 10,720 electric vehicles in the third quarter, showcasing its production capabilities [3]. Group 2: Future Models and Expansion Plans - Rivian is preparing to launch the R2 SUV model next year, which is anticipated to achieve production and sales in the hundreds of thousands [3]. - To support the R2 and subsequent models, Rivian is investing heavily in expanding its factory in Normal, Illinois, and is also constructing a new facility in Georgia [3]. Group 3: Market Challenges and Adjustments - Earlier this year, Rivian expressed strong confidence in reaching its 2024 sales target, initially estimating deliveries between 46,000 and 51,000 vehicles, but later adjusted this range to 40,000 to 46,000 due to changing trade regulations and consumer demand concerns [4]. - The latest adjustment further narrowed the delivery range to 41,500 to 43,500 vehicles, reflecting ongoing challenges in the U.S. electric vehicle market [4]. Group 4: Industry Context and Competitive Landscape - The U.S. electric vehicle industry is currently facing difficulties, particularly with the Trump administration's cautious stance on electric vehicles and renewable energy, leading several manufacturers to delay or cancel new electric vehicle plans [4]. - Despite these challenges, Rivian's CEO expressed optimism about future opportunities in a post-subsidy era, suggesting that companies focused solely on electrification, like Rivian and Tesla, will have a competitive advantage in a less crowded market by the end of the decade [5][6].

Core Viewpoint - Rivian's stock is experiencing a significant decline despite reporting strong delivery numbers for the third quarter, indicating broader market challenges in the electric vehicle sector [1][2]. Company Performance - Rivian delivered 13,000 units and produced 10,720 vehicles in the last quarter, which annualizes to approximately 52,000 to 54,000 units, significantly lower than Tesla's production of about 500,000 cars per quarter [6][7]. - The company has seen a stock increase of around 28% over the past year, but it has dropped significantly from a high of $180 in late 2020 to early 2021 [5]. Financial Metrics - Rivian reported sales of $5.1 billion over the last four quarters, but incurred a net income loss of $3.5 billion, indicating a negative gross margin with costs of goods sold at approximately $5.3 billion [8][11]. - The company has around $7.5 billion in cash, which equates to about two years of operational cash available [11]. Market Context - The expiration of federal tax credits for new and used electric vehicles at the end of September has impacted consumer purchasing behavior, contributing to the stock's decline [3][4]. - Rivian's inability to scale production effectively limits its ability to lower prices and improve profitability, contrasting with Tesla's established scalability and profitability [9][10][12]. Future Outlook - Investors should monitor Rivian's guidance on production numbers; achieving production targets of 60,000 to 70,000 units per quarter could positively influence stock performance [12].

Welcome back to Market on Close. Shares of Rivian are under heavy pressure today after the company announced third quarter deliveries that were in line with estimates at 13,201. But the EV company narrowed its 2025 delivery guidance.Rivian now expects to deliver between 41,500 and 43,500 vehicles compared to earlier guidance of between 40 and 46,000 deliveries. So, a downside move there. I know earlier before that most recent announcement they had wanted to have deliveries of 50,000 to match the previous ye ...

U.S.-based EV stocks are in the spotlight today, as quarterly delivery numbers roll in. Tesla Inc (NASDAQ:TSLA) announced a record 497,099 vehicle deliveries in the third quarter. Investors are questioning how sustainable these numbers are, however, considering the company's push to drive sales before the expiration of the $7,500 clean vehicle federal tax credit, which ended September 30. At last glance, Tesla stock was down 3.6% at $442.94, looking to snap a four-day win streak. The shares rallied through ...