Three agencies have certified Rivian’s vehicles, which is the last hurdle to allow the electric carmaker to deliver and sell its R1T pickup truck or R1S SUV across all 50 states.
Rivian confirmed via email to TechCrunch that all vehicles have been certified by the National Highway Traffic Safety Administration and California Air Resources Board. Bloomberg reported Rivian received approval from the regulatory authorities to transport vehicles to customers.
Rivian offers a direct-sales model where customers can place orders online. Rivian is prohibited by many state dealer protection laws from opening its own retail stores where customers can test drive the vehicles and get information about financing. Customers can order online from these states without restrictions.
According to the NRDC , today 22 states permit vehicle manufacturers to sell their vehicles to customers. Rivian is allowed to open stores in these states and offer rides, test drives, as well as discuss financing. Tesla is also allowed to be sold in 11 other states, though it has limited access.
Rivian will begin delivery of the R1T Launch Edition this month. The R1S SUV will be delivered in the coming year.
Following a series of announcements over the last few weeks, which included the arrival of the Rivian R1T pickup truck in Rivian blue on Tuesday at its factory in Normal (Illinois), the confirmation of certifications by the state and two federal authorities. Official EPA ranges were also given to the two vehicles by the company: 314 miles for its first edition R1T pickup truck, and 316 for the R1T SUV.
Rivian filed confidential paperwork to the U.S. Securities and Exchange Commission in order for Rivian’s company to become public. Rivian, supported by several strategic and institutional investors, including Amazon and Ford, does not have a price range or size for the planned offering.
According to sources familiar with Rivian’s IPO plans, the company hasn’t yet begun the “roadshow” process. This is where an underwriting company and management present a number of pitches to potential investors prior the public offering.
Publiated at Wed 15 Sep 2021, 01:53:04 +0000