EV truck maker Rivian plans in-house battery cell manufacturing


[02-10-2021 11:16 AM]

Ammon News - Electric truck maker Rivian Automotive, which currently sources batteries from South Korean supplier Samsung SDI (006400.KS), plans to build battery cells in-house, its filing for a U.S. initial public offering showed on Friday, Reuters reported.

The startup, backed by Amazon.com Inc (AMZN.O) and Ford Motor Co (F.N), said in the filing that its own battery cells would "complement third-party cell procurement which will provide supply continuity and support our anticipated growth."

Rivian, which disclosed losses of nearly $1 billion in the first half of the year, said it sees capital expenditure of approximately $8 billion through the end of 2023 to invest in additional manufacturing capacity, battery cell production, charging networks and others, according to Reuters.

"Given the paramount importance and impact of the battery system on vehicle range, performance, and price, we have built in-house capabilities across the entire value chain," Rivian said, adding that includes battery cell development, battery manufacturing expertise and critical raw materials sourcing.

"Over time, we intend to expand our capabilities related to proprietary cell development and in-house cell manufacturing and expect that these functions will grow substantially in the coming years," it said.

Rivian announced in April that it had selected Samsung SDI as a battery supplier for its R1T pickup and R1S sport utility vehicle.

Samsung SDI is considering building a battery plant in central Illinois where a Rivian factory is located, U.S. Senator Dick Durbin of Illinois told reporters in August.

Rivian rival Tesla Inc (TSLA.O) last year announced a plan to build battery cells in-house, but Tesla earlier this year canceled a plan to launch its longest-range Model S Plaid+ sedan with the new battery cells.




  • no comments

Notice
All comments are reviewed and posted only if approved.
Ammon News reserves the right to delete any comment at any time, and for any reason, and will not publish any comment containing offense or deviating from the subject at hand, or to include the names of any personalities or to stir up sectarian, sectarian or racial strife, hoping to adhere to a high level of the comments as they express The extent of the progress and culture of Ammon News' visitors, noting that the comments are expressed only by the owners.
name : *
email
show email
comment : *
Verification code : Refresh
write code :