Rivian going public next week

[idbefishing]

Who’s jumping in? Already has a valuation about the same as NIO. As hot as the EV sector is right now, this one is gonna go wild.

[boneil]

I was a reservation holder and was offered shares of the IPO. I decided against it. Its too much for me. Maybe if it was valued at 10-20 billion. Rivian has alot of growing pains ahead of themselves, which is starting. They are contacting early reservation holders and telling them their Oct/Nov delivery times are being moved to February. The problem? QC issues with manufacturing. Tesla nearly went bankrupt trying to make the model 3. And Tesla still has a lingering perception problem with QC, panel gaps, because of the early days of the model 3. I think Rivian messed up with going public before delivering trucks to real customers. They're putting on a show for the IPO with delivering to employees only. These trucks are having problems.

I ordered my truck last spring and was expecting delivery early next year. But at the time, early reservation holders were expecting deliveries this past June. It's been one delay after another. And the earliest of reservation holders are now being told early next year. Where does that put me, 2023? No thanks. I cancelled and ordered a Tesla, with a June of next year expected delivery date.

[idbefishing]

Oh man that sucks, I know you were looking forward to take delivery of it. Thanks for the info on their issues. Didn’t most of the EV start up went public before delivery?

[boneil]

I was excited for the truck. But I can't wait another year or more. And I have concern that production delays will cause the stock to suffer and stock price may influence decisions, which won't be good for quality.

I'm not sure if Tesla had delivered any Roadsters yet when they went public. But for the most part it seams that most EVs are going public before solving the issue of volume production. Same with battery tech companies like Quantum Scape. Volume production is one of the areas where TSLA will lead the industry once Texas and Berlin factories are online. For many reasons volume production is the problem for the auto industry.