On October 9th, according to foreign media reports, Rivian, a new electric vehicle power in the United States, recently released news that it will independently develop and produce power batteries. It is reported that Rivian has independently developed electric drive systems (motors, inverters and gearboxes), battery modules and battery packs, electronic control units (ECU) and corresponding software programs.
Rivian officially stated that it hopes to improve the company’s product ecosystem through investment, especially product development and operation infrastructure, so as to enhance product innovation capabilities and customer experience. At the same time, Rivian’s future product lineup will be further expanded.
Coupled with the consideration of ensuring production capacity and delivery, Rivian decided to produce power batteries independently as an important supplement to third-party battery procurement.
Rivian said that in the future, the company will continue to improve its ability to vertically integrate power batteries, including battery-related chemical development, module and packaging engineering, BMS design, key raw material procurement, battery manufacturing expertise, and advanced verification and testing. Internal laboratory, etc.
1. The new factory is planned to be built or will be a joint venture to produce batteries
According to reports, in August of this year, Rivian has planned to invest approximately US$5 billion (approximately RMB 32.35 billion) to build a new factory near Fort Worth, Texas, USA.
At the same time, Rivian is also considering building a second factory east of Mesa, Arizona. It is reported that Scaringe, CEO of Rivian, has discussed the project with Arizona Governor Doug Duce. It is understood that this plant in Arizona will be used to produce batteries and complete vehicles.
According to foreign media sources, Rivian’s current battery supplier isSamsung SDI, Rivian R1T and R1S all use the type 2170 cylindrical lithium-ion batteries they provide, while Samsung SDI is considering building a supporting factory near Rivian’s factory in Illinois, USA.
▲ Rivian’s factory in Bloomington-Normar, Illinois
Therefore, outsiders speculate that Rivian is also very likely not to completely develop and produce power batteries independently, but to set up a joint venture with Samsung SDI.
2. Focus on electric pickups just submitted an IPO application last Friday
Rivian focuses on the market segment of electric pickup trucks, and the market performance of its products is not inferior to Tesla’s Cybertruck and other traditional fuel pickup trucks.
Currently, Rivian has two models that are being launched for production, namely the electric SUV R1S and the electric pickup R1T. Among them, Rivian R1T was officially unveiled in 2019, and the starting price of the new R1T Explore basic version will be 67,500 US dollars (approximately RMB 436,000), and it is expected to be launched in 2022.
▲ Rivian’s electric SUV R1S
According to reports, Rivian just submitted an IPO application last Friday and plans to list on the Nasdaq under the code RIVN. Underwriters include Morgan Stanley, Goldman Sachs and JPMorgan Chase.
▲ Rivian’s IPO information
In fact, Rivian has now taken the lead, ahead of well-known car companies such as Tesla, Ford, and General Motors, and has a certain first-mover advantage in a segment of electric pickup trucks. But as more and more players join, Rivian will also face a fierce battle in the future.
Conclusion: Rivian industry chain continues to improve
Rivian’s vertically integrated ecosystem is its unique competitive advantage. In the electric pickup market segment, Rivian has broken a path; and the announcement of self-produced and self-developed power batteries this time continues its vertical integration logic.
With the continuous improvement of its industrial chain, can Rivian become the next Tesla? Wait and see.