{"id":1484120,"date":"2024-08-16T18:00:00","date_gmt":"2024-08-16T22:00:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1484120"},"modified":"2024-08-16T18:00:00","modified_gmt":"2024-08-16T22:00:00","slug":"snarled-supply-chain-paralyzes-rivian-delivery-van-production-for-amazon","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/snarled-supply-chain-paralyzes-rivian-delivery-van-production-for-amazon\/1484120\/","title":{"rendered":"Snarled Supply Chain Paralyzes\u00a0Rivian Delivery Van Production For Amazon"},"content":{"rendered":"

Snarled Supply Chain Paralyzes\u00a0Rivian Delivery Van Production For Amazon<\/span><\/p>\n

\n

Shares of Rivian Automotive dipped slightly in premarket trading after a Bloomberg<\/a> report\u00a0revealed that production of its electric commercial van\u00a0had been paused due to a parts shortage.\u00a0<\/p>\n

Rivian confirmed the production halt at the EV van’s\u00a0assembly lines in Normal,\u00a0Illinois. No specifics were given about the part shortage or a timeline for restarting production lines.\u00a0<\/p>\n

A company spokesperson said part shortages are all too common across the industry, adding that production for the\u00a0R1 electric pickup and SUV models has been unaffected.\u00a0<\/p>\n

“We’re aware that Rivian encountered short-term production issues this month, and we don’t expect it to impact us,” an Amazon spokesperson told Bloomberg.\u00a0<\/p>\n

<\/a><\/p>\n

In 2019, Amazon founder Jeff Bezos placed a $7 billion order for 100,000 electric delivery vans by the end of this decade. So far, about\u00a015,000 are in service.\u00a0<\/p>\n

According to Bloomberg, “The\u00a0interruption marks another production hiccup for the EV maker as it works toward boosting output of its EV lineup next year.”\u00a0<\/p>\n

Rivian shares in premarket trading in New York are down around 1%. Shares have been range bound between $40 and $10 handles for the last two years – basing – amid a downturn in the EV space and a resulting price war by Tesla to protect market share.<\/p>\n

<\/a><\/p>\n

In late June,\u00a0Volkswagen announced<\/a> a\u00a0billion dollar investment in\u00a0Rivian to\u00a0develop the\u00a0next-gen EV architecture. This was a crucial lifeline for the company amid the downturn.<\/p>\n

There’s a potential for the EV downturn to bottom after the Federal Reserve embarks on the interest rate-cutting cycle, which could begin as soon as next month. Lower rates would make car-buying more affordable again for average folks.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nFri, 08\/16\/2024 – 14:00<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/snarled-supply-chain-paralyzes-rivian-delivery-van-production-amazon<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Snarled Supply Chain Paralyzes\u00a0Rivian Delivery Van Production For Amazon Shares of Rivian Automotive dipped slightly in premarket trading after a Bloomberg report\u00a0revealed that production of…<\/p>\n","protected":false},"author":0,"featured_media":1484121,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1484120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1484120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1484120"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1484120\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1484121"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1484120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1484120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1484120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}