Rivian Automotive Q4 2021 Q&A Session Transcript
Q&A(Question-and-Answer Session)is a session after the company's prepared remarks where institutional investors and analysts ask management questions. In this dialogue, you may find some valuable information that might affect the stock price in the following weeks.
Now let's look at some key points from $Rivian Automotive, Inc.(RIVN)$ Q4 2021 Q&A Session Transcript
Q:Hi. Thanks, everybody. So RJ and Claire, during -- in your S1 late last year, you had, at the time, 55,400 orders for the R1. And you stated that you expected to deliver those vehicles by late 2023. Can you confidently reiterate that you could deliver the 55,000th R1 by late 2023 today?
A:Hi, Adam. Yes, we can confidently say we'd be the 55,000th vehicle by the end of 2023. And as you heard from Claire and I, right now, the real constraint for our production is within the supply chain. And this has been a major focus for us. Every morning starts with thinking about which suppliers we need to go speak to and push harder on to make sure they're ramping as fast as the rest of our production line. But ultimately, our ability to ramp this year will continue to be gated by the supplier ramps. And as you know, it's not all the bill of materials. It's just a small fraction of the bill of materials where we're having some of these supplier constraints.
Q:Okay. RJ, I'm interpreting that as that you confidently reiterate that given your visibility on the supply constraints, this is how I'm interpreting that, meaning including the supply constraints.
A:Absolutely. Absolutely.
Q:Thanks RJ. Just as a follow-up, how many EDVs have you delivered to Amazon to date have actually been delivered and are in service?
A:So as you heard, Adam, we're in the process on EDV of ramping the production. And the production ramp on that vehicle is actually going a lot smoother than what we've seen on R1. And it's really capturing a lot of the lessons learned and a lot of the sort of organizational capabilities that we've built on the ramp-up of R1. And so, as we think about EDV, it is outrunning the supply chain by a significant degree today. So the vehicles that we're producing, we're using really to refine, as you heard from us, some of the software and integration, the digital integration with an Amazon system. So, we really look at the second quarter to see significant ramp-up of the EDV.
The above Q&A are highlights that are edited for brevity.Click here for the full RIVIAN Technologies Q4 2021 Earnings Call Transcript.
If you want to know more details, you can click here to re-watch the RIVIAN Technologies Q4 2021 Earnings Conference Call
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