Categories: Automobile

Rivian says war in Ukraine exacerbates supply-chain woes

[ad_1]

EV maker Rivian Automotive Inc. says Russia’s invasion of Ukraine is adding to supply chain pressures and costs, becoming one of the first U.S. automakers to cite the war in Eastern Europe as a risk and headwind.

In a regulatory filing Thursday, Rivian blamed the dispute between Russia and Ukraine, along with the ongoing pandemic and inflation, for “disruptions to and delays” in operations. The Irvine, California-based company also listed the conflict as a factor in higher component costs —  including battery metals, which it said have risen “considerably.”

The Amazon.com Inc.-backed EV upstart has struggled to ramp up production of its debut battery-powered vehicles. The company had an embarrassing U-turn on raising prices earlier this month, a move it originally attributed to a supply chain crunch and price pressures. It also gave a tepid production forecast of 25,000 vehicles, half of what the company’s Normal, Ill., plant is capable of building.

“There have been very sizable increases in recent months in the cost of key metals, including lithium, nickel, aluminum, and cobalt with volatility in pricing expected to persist for the foreseeable future,” Rivian said in the filing, without explicitly linking the price pressures to the war.

In total, Rivian made 13 references to Ukraine in the filing. The company hadn’t previously made any explicit references to the war as a risk factor or headwind, but had acknowledged rising commodity prices and ongoing parts procurement challenges.

[ad_2]
Source link
Admin

Recent Posts

Choosing the Perfect Kitchen Cabinets in Toronto

Hey there, Toronto homeowners! If you're diving into a kitchen renovation, one of the most…

3 hours ago

Kijangwin is the latest online video gaming provider

Kijangwin is your brand-new go-to destination for all things internet gaming. Whether you're an informal…

2 days ago

How to Style Trendy Clothes Effortlessly

Hey there, fashion enthusiasts! Are you ready to dive into the world of trendy clothes…

3 days ago

How to effectively recover your frozen/stolen funds from fraudulent platforms

Hey there! If you're reading this, there's a good chance you've found yourself in the…

3 days ago

Important things about Core 2 . 0 regarding Hemp Users

Hey there, hemp enthusiasts! If you've been on the hunt for the next big thing…

6 days ago

Exploring the Features and Benefits of Strio

Hey there! Have you ever found yourself tangled up in the world of communication and…

1 week ago