• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Friday, May 23, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Tech Automobiles

Rivian to capture 10% EV market by 2030 says RJ Scaringe

by Meghana Kandra
February 25, 2022 - Updated On February 26, 2022
in Automobiles, Cars, Electric Vehicles, Manufacturing
Reading Time: 2 mins read
0
Rivian founder says company aims to take 10% share in the EV market by 2030
TwitterWhatsappLinkedin

Rivian CEO RJ Scaringe stated at the 2022 Wolfe Research Virtual Global Auto Tech and Mobility that Rivian Automotive is focused on capturing a 10% EV market share by 2030. Rivian is still dealing with the ongoing chip shortage, yet believes the company is making strides towards increasing production capacity. In the Conference, RJ Scaringe participated in the virtual fireside chat with auto analyst Rod Lache.

You might also like

Dodge Unleashes Four-Door Charger EV With 670 HP, Donut Mode, and Track Pack Brakes

Texas Legalizes Japanese Mini Trucks: A Victory for Vehicle Freedom Advocates

Porsche Recalibrates EV Ambitions: More Hybrids, Slower Electrification

Rivian founder says company aims to take 10% share in the EV market by 2030
Image credits- Electric Vehicles

While addressing inquiries from Wolfe Research, Scaringe mentioned that Rivian actually paused production at the Normal plant for the first ten days of January to optimize the facility’s assembly lines. “We’re absolutely making progress. The plant is starting to ramp nicely,” Scaringe said, later noting that Rivian has the brand position to build out a portfolio that would allow the company to “work toward building a position of 10% market share within the EV space.”

Later comments from the executive indicated that Rivian considers the ongoing chip shortage one of the most painful constraints in the company’s efforts to raise its production capabilities. Rivian’s 2021 numbers hinted at production challenges. Last year, the company produced only 1,015 vehicles from an already conservative target of 1,200 units.

Ramping up production

Emails sent to R1 reservation holders also hinted at some of the company’s challenges in ramping vehicle production. In December, Rivian released an email from Scaringe informing customers that the company would prioritize the production of Adventure Package R1 vehicles with the Large Battery pack configuration. This meant that the delivery timeframe for Explore Package R1 vehicles with Max Battery packs was pushed into 2023.

Scaringe wrote, “We realize these timing estimates may be different than what some of you had originally expected. We know any shifts in timing can be challenging as you try to plan vehicle purchases and trips you want to take. To Max pack and Explore preorder holders who have been with us since 2018 and 2019 whose delivery windows may push into 2023 — we value your loyalty and commitment and will be reaching out to you in January to gauge your interest in reconfiguring to an Adventure Package with Large pack battery so that you can take delivery in 2022,”

Furthermore, it is known that Rivian will likely discuss its 2022 plans in more detail at its upcoming Q4 and FY 2021 earnings call, which is scheduled to be held on March 10, 2022, after the market closes. The company will host a webcast to discuss its Q4 and FY 2021 results and provide a business update at 2 p.m. PST on the same day.

Tags: electric vehicleEV marketRivianRivian R1SRivian R1tRJ Scaringe
Tweet54SendShare15
Previous Post

Everything You Need to Know About Certik Cryptocurrency

Next Post

Facebook users are posting game footage, calling it Ukraine invasion

Meghana Kandra

Meghana studied PGD in Journalism, open university. She has more than five years of experience in content writing, from creative content development to online journalism. Electric vehicle enthusiast, engineer, and feminist.

Recommended For You

Dodge Unleashes Four-Door Charger EV With 670 HP, Donut Mode, and Track Pack Brakes

by Samir Gautam
May 22, 2025
0
Dodge Unleashes Four-Door Charger EV With 670 HP, Donut Mode, and Track Pack Brakes

A year after Dodge sent shockwaves through the muscle car world with the debut of its all-electric Charger coupe, the brand is doubling down on electric performance this...

Read more

Texas Legalizes Japanese Mini Trucks: A Victory for Vehicle Freedom Advocates

by Samir Gautam
May 22, 2025
0
Texas Legalizes Japanese Mini Trucks: A Victory for Vehicle Freedom Advocates

Texas has officially legalized the registration of imported Japanese mini trucks, also known as Kei trucks, thanks to the passage of SB 1816. The bill, which removes bureaucratic...

Read more

Porsche Recalibrates EV Ambitions: More Hybrids, Slower Electrification

by Samir Gautam
May 22, 2025
0
Porsche Recalibrates EV Ambitions: More Hybrids, Slower Electrification

Porsche, once a front-runner in the electric vehicle (EV) revolution among luxury automakers, has announced a significant shift in its electrification roadmap. At the company’s annual shareholder meeting,...

Read more
Next Post
Facebook

Facebook users are posting game footage, calling it Ukraine invasion

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?