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Electric vehicle maker Rivian issues a recall for almost all of its vehicles

Electric truck and SUV maker Rivian Automotive on Friday said it is recalling nearly all vehicles it has delivered to customers in order to tighten a loose fastener that could potentially affect drivers’ ability to drive. .

The company, which was founded in 2009, said it was recalling about 13,000 vehicles because the fasteners connecting the vehicles’ front upper-control arm and steering knuckle could not be torqued enough.

Rivian said there have been seven reports possibly related to the issue, but no injuries were reported.

Rivian CEO RJ Scaringe wrote in a letter to vehicle owners, “If you experience excessive noise, vibration or stiffness from the front suspension, or a change in the performance or feel of the steering, you should call immediately.” ”

The company, based in Irvine, Calif., said the fix will only take a few minutes, and it expects repairs to be completed on all of them in about 30 days with customer support.

Rivian aims to take advantage of the growing appetite of consumers and investors for electric vehicles. It is one of a long line of companies, both new and old, trying to snatch market share from Tesla.

It went public last year, and its market value has rapidly overtaken Ford and General Motors to become the second most valuable US automaker behind Tesla. But that’s no longer the case: The company’s stock is down 67% so far this year.

In March, Rivian announced a price hike on its vehicles, then backtracked two days later following backlash from angry customers.

In July, Rivian layoffs of over 800 employees, It reported a net loss of $1.6 billion in the first quarter of 2022 and a loss of $1.7 billion in the second quarter.

Last month, Rivian said it is partnering with Mercedes-Benz to build a factory in Europe that will produce electric vans for both companies.

has been revamped plagued by chronic production delays Partly due to supply constraints including semiconductors. Its Illinois factory is capable of producing 150,000 vehicles annually, but this year the company is only expecting to roll out 25,000. For customers who have purchased a Rivian truck, the wait to receive it is now over a year long.

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