More specifically, Rivian's problem is that the $7,500 federal incentive only applies to EVs costing $80,000 or less, including related charges. Furthermore, the income of a buyer could be no more than $150,000 a year, twice that for a couple. Chen says that as a result, "nearly all of our vehicles would be ineligible for incentives," as the company is not planning to offer a lower-priced model before 2025.

PUBLISHED MON, OCT 10 20229:02 AM EDTUPDATED 3 HOURS AGO

• Rivian late Friday said it is recalling more than 12,000 vehicles for a potential steering defect.
• The issue involves a fastener that may not have been tightened properly at the factory.
• The specifics of Rivian’s recall have investors concerned.

Shares of Rivian Automotive opened sharply lower Monday after the electric vehicle maker said late Friday that it is recalling more than 12,000 vehicles – nearly every EV it has made to date – to double-check that a fastener in the vehicles’ steering assembly was properly tightened.

The stock was down more than 10% in morning trading Monday ....

want to thank you for all your energy and collective effort as we closed our first full year of production. Our official production and delivery numbers for 2022:

• Q4 factory gated: 10,020
  
• Q4 delivered: 8,054
  
• 2022 factory gated: 24,337
  
• 2022 delivered: 20,332
  
• 2022 off the line: 25,051
  

714 vehicles are currently being factory gated, including those awaiting parts, software validation, wheel alignment, upfits and charging. As they are not 100% finished, they can’t count toward our official figure – however with more than 25,000 driving off General Assembly, this is an incredible achievement and testament to the commitment and passion of our entire team. Thank you!

Rivian produced 13,992 vehicles and delivered 12,640 to customers in the three months ended June 30. Analysts had expected the company to make about 12,562, according to an average of estimates compiled by Bloomberg. The quarterly total — which includes figures for its two passenger vehicles and a commercial plug-in van for investor and customer Amazon.com Inc. — was up from the 9,395 it built in the first quarter.

(Reuters) — E-commerce giant Amazon will deploy its first European vans from U.S. electric vehicle (EV) maker Rivian in Germany over the coming weeks as part of long-term plans to electrify its transportation network, it said on Tuesday.Amazon said 300 electric vans will hit the roads in the Munich, Berlin, and Dusseldorf regions as part of a 100,000-vehicle order it made in 2019 from Rivian, in which it is the largest shareholder.

ATLANTA – The Georgia Supreme Court has cleared the way for automaker Rivian to build an electric vehicle manufacturing plant east of Atlanta.

The justices have declined to hear an appeal challenging the $5 billion project’s bond agreements with the state and the Joint Development Authority of Jasper, Morgan, Newton, and Walton counties (JDA). The plant will create 7,500 direct jobs, not counting the indirect jobs various suppliers will generate.

The state Court of Appeals had earlier dismissed a lawsuit filed by a group of local residents accusing the state and development authority of bypassing local zoning regulations.

“To date, every decisive legal challenge has ruled in the state and JDA’s favor, reinforcing what we have known since December 2021 – Rivian is a generational opportunity for Georgians,” said Pat Wilson, commissioner of the state Department of Economic Development.

“With today’s news, we are looking forward to working with Rivian, our sister agencies, and local communities to capitalize on Georgia’s momentum at the forefront of the e-mobility revolution.”

Development of the 2,000-acre site began last year, with the plant expected to begin production in 2026.

The Rivian project is surpassed in scope only by the huge EV plant Hyundai is building west of Savannah. The Hyundai project, the largest economic development undertaking in Georgia history, represents a $5.5 billion investment and 8,100 jobs.