Rivian R1T delivery delays, R1T Qualifies for Tax Credit and More.

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A Rivian guide has just confirmed to a prospective R1T owner that a new estimated delivery date has been set for His vehicle. The new delivery date is...

Дата загрузки:2021-11-06T15:50:13+0000

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A Rivian guide has just confirmed to a prospective R1T owner that a new estimated delivery date has been set for His vehicle. The new delivery date is set for the end of February, 2022, pushed forth from October, 2021. The delay he said was due to Supply chain constraints as the main cause.
We are not sure if its an official delay from the automaker or its just for that one customers case, or is it just for the particular skew he reserved.. The news was first posted on Rivianforums.com by the user godfodder0901 who email his guide about a delivery update of his car and the guide called back.
Rivian is however delivering vehicles to some owners howbeit mostly to company employees who have reservations and at a trickle rate.
Deliveries of the R1T Launch Edition vehicles, the limited edition release of its first series of “electric adventure vehicles,” were supposed to begin in September after being delayed by from July and several other delays before then.
Rivian is hardly the only automaker grappling with the global chip shortage. GM, Ford, Toyota and virtually every other automaker has either slowed production or built its vehicles without certain features supported by chips. For instance, GM is now building certain mid- and full-sized SUVs without a wireless phone charging feature due to the global shortage of semiconductor chips.
Unlike the established players with plenty of inbound revenue, Rivian is a newcomer that is trying to be the first automaker to bring an electric pickup truck to market. Ford plans to bring the electric F-150 Lightning pickup truck to market in spring 2022. Production of a GMC Hummer EV pickup is expected to begin later this year.
Our next story talks about Rivian officially qualifying for IRC 30D Tax Credit
Incentives in the form of tax breaks and other means have pushed the scales towards purchasing an electric car for a lot of people. It is the country’s own strategy to attain its goal of carbon neutrality and the end of internal combustion engine cars. This credit is however not for every electric car model and it also runs out for a particular car model.
The 2022 model year Rivian R1T has officially qualified for the Internal Revenue Code Section credit for Qualified Plug-in Electric Drive Motor Vehicles including passenger vehicles and light trucks. This tax credit incentive is for vehicles acquired after 12/31/2009, the credit is equal to $2,500 plus, for a vehicle which draws propulsion energy from a battery with at least 5 kilowatt hours of capacity, according to the irs announcemnt, $417, plus an additional $417 for each kilowatt hour of battery capacity in excess of 5 kilowatt hours.
The total amount of the credit allowed for a vehicle is limited to $7,500.

The credit begins will phase out for Rivian after it has sold 200,000th vehicle cumulated after December 31, 2009.
Rivian seeks to raise $8.4 billion in IP
According to a regulatory filing filed on Monday, the E-vehicle startup Rivian is looking to raise $8.4 billion in its IPO, making it the third-largest initial public offering in the United States in terms of funds raised in the last decade.

From the filing, the business, which is backed by Amazon, aims to sell 135 million shares at a price range of $57 and $62. Additionally, underwriters have the opportunity to purchase up to 20.25 million additional shares. Rivian might raise up to $9.6 billion if underwriters take that option.

Based on the percentage of outstanding shares, the company’s market valuation is estimated to be $53 billion. Rivian’s valuation could be as high as $60 billion if employee stock options and other restricted shares are considered.

On October 1, Rivian filed to become a publicly traded corporation in the United States. The target share price was not disclosed in the S-1 document at the time. The additional information was disclosed in a revised filing filed on Monday, which contained interest in Rivian from both old investor Amazon and newcomer Blackstone.

Amazon, T. Rowe Price Associates, Coatue Management, Franklin Templeton, Capital Research Global Investors, D1 Capital Partners LP, Third Point LLC, funds affiliated with Blackstone Alternative Asset Management, Dragoneer Investment Group LLC, and certain entities affiliated with Soros Fund Management LLC have expressed interest in purchasing up to $5 billion in shares of class A common stock.

Per a recent filing by Amazon, the e-commerce giant currently owns a 20% investment in Rivian and has bought 100,000 of its electric delivery trucks as part of its aim of minimizing its co₂ emissions.

Rivian’s IPO was one of the most anticipated of the year, and now all eyes are on its public debut on the Nasdaq exchange. Rivian will trade under the ticker sign RIVN.


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