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Amazon-backed EV firm Rivian delays deliveries of R1S SUVs

by Mike Robinson

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© Reuters. FILE PHOTO: The company logo is seen on a Rivian R1T pickup, the Amazon-backed electric vehicle (EV) maker, as it is parked outside the Nasdaq Market site during the company’s IPO in Times Square in New York City, U.S., November 10, 2021. REUTERS/Brenda

(Reuters) – Rivian Automotive Inc, an Amazon-backed electric vehicle maker (EV), has begun notifying customers who reserved R1S SUVs of delays in delivery. Media outlets reported Wednesday.

In afternoon trading, its shares dropped 4.5% to $114.31

R1S production would start at Normal, Illinois in December according to the company. The first deliveries are expected to begin in January.

Rivian began sending customers emails informing them of the change to the delivery window. According to media outlets InsideEVs, Electrek and Electrek, Rivian now sends out email notifications to notify them.

Reuters was unable to independently verify this information and Rivian wasn’t immediately available to comment.

This startup is flush with cash after a profitable IPO valued at $100 billion. It has plans to establish a second U.S. facility and hopes eventually to expand its operations in Europe and China. However, it hasn’t provided any details about the location and time frame of the second U.S. factory.

Rivian was ranked as America’s second-most valuable automaker after its Nasdaq debut in Nov. 10. Shares rose as high as 53%.

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