Rivian is not going through his best moment. RJ Scaringe’s company continues to lose value in the markets. As its stock plummets, the first recall occurs. A moment that no manufacturer wants to live, but that always ends up happening. Rivian has just announced that 500 units of its pick-up, the Rivian R1T, will have to go through the workshop to correct a potential hazard related to the passenger airbag.
As we say, it is a trance that no brand wants to go through. After some tests, Californians they have detected a problem in the passenger airbag in a handful of units. 500 vehicles isn’t that many, but considering Rivian’s production volumes, the recall is much more sensitive than usual. Not only because of the volume of vehicles, but also because of the company’s financial situation.
The NHTSA, the National Highway Traffic Safety Administration, has been in charge of issuing the danger notice. The company has discovered that some seats in its pick-up have a defect by which they do not deactivate the deployment of the airbag when detecting a child seat. As you may already know, when a child restraint system is attached to the passenger seat, the airbag must be deactivated to prevent injury to the child.
Listed as a security risk, Rivian has determined a total of 502 units of the Rivian R1T manufactured between the start of the production period last year and April 12 of this year. Drivers affected by the problem will be correspondingly notified to take their cars to the workshop in order to correct the sensor that detects the child seat. Rivian will bear any costs incurred, and it is expected that the repair will take no more than a few hours, as only the defective seat will be replaced with one that is not.
Stocks keep falling
It is nothing new to say that Rivian is in a difficult moment financially. In recent days one of its partners, Ford, has gotten rid of another important package of shares. Those of the oval have released a total of 7 million titles for a value of 188.42 million dollars. This comes a few days after Blue Oval, a subsidiary of Ford itself, sold $214 million in shares. In one week the manufacturer has sold more than 400 million dollars in shares.
Everything seems to indicate that those of Michigan have tired of Rivian. Having poured huge amounts of money into RJ Scaringe’s Startup, Ford has lost nearly $3 billion in lost stock value. At its peak, Rivian came to trade at 172 dollars per share, while today the price is around 27 dollars. A very delicate situation to which a way out will have to be found, and in which the first call for review of the brand will not help at all.