Electric truck and SUV maker Rivian has recalled almost all vehicles on the road, most of them in the United States.
The drastic decision of the brand that at some point was mentioned as the great rival of Tesla, has a seat in which They discovered that a tensioner connecting the control arm and a steering gear could be installed incorrectly.
In some cases, this error could lead to a loss of steering controlsaid the company in a statement published this Friday, October 7 at night.
The withdrawal covers 13 thousand vehicles manufactured between 2021 and 2022.
Until this Saturday, there have been no known accidents linked to this problem, the company said in the same press release.
Rivian markets three 100% electric models: a van, an SUV and a commercial delivery vehicle.
The call for withdrawal and review of 13 thousand vehicles covers practically the entire circulating Rivian fleet, they understand in the Wall Street Journalas the 2022 manufacturing target at its Illinois plant is 25,000 units.
Rivian recalls thousands of vehicles due to steering problem
This is a serious problem for Rivian as the brand is under a lot of pressure to prove to Wall Street investors that it can transition from being a small startup to a large manufacturer of electric trucks, vans and SUVs.
Rivian went public in 2021 with an IPO that met with fleeting success. for a few days, its valuation reached more than 100 billion dollars, more than many other auto companies, but then the stock crashed.
Rivian’s stock price is down 70 percent in 2022. The market valuation was $33.75 billion at the close of trading on Friday, a far cry from the $100 billion it was listed at.
In 2022, Rivian’s manufacturing volume issues were compounded by complexities stemming from a lack of supplies and then the war in Ukraine, which drove up the cost of raw materials.
Although monthly production has been slowly increasing, the lack of semiconductors remains a problem.
Rivian produced just over 14,000 vehicles in the first three quarters of this year.
The Irvine, California-born company was the largest among a handful of electric vehicle startups to catch the eye of Wall Street in recent years, as investors sought to capitalize on the growth prospects of electric vehicles, without having to buy a part of the already overvalued Tesla.
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