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Old 09-11-2021, 02:28 PM
 
Location: In the heights
36,905 posts, read 38,810,969 times
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Quote:
Originally Posted by Rag King View Post
Bloomington/Normal........not a bad area. It is a white collar area dominated by residents with blue collar tastes. Drive up and down Veterans Parkway and observe endless crappy chain restaurants and fast food. There is nothing to do there if you are single - unless you like bar hopping.

If that area can evolve culturally, then great! Cultural issues notwithstanding, it is not a bad area to raise a family if you have kids heavily involved in school or park district sports.
There seems to be quite a few non-chain restaurants in various parts of town especially away from the suburban strips. I assume the presence of a large university probably helps it along.
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Old 09-14-2021, 09:20 PM
 
Location: In the heights
36,905 posts, read 38,810,969 times
Reputation: 20929
The first production Rivian R1T electric pickup truck has rolled off the production line today. It appears that Rivian has beaten Tesla, Ford, and GM to the punch with the first mass production electric pickup truck:


https://www.wglt.org/local-news/2021...irst-to-market
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Old 10-24-2021, 06:57 PM
 
Location: In the heights
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Anyone here live in the area? Are these pickup trucks common sights on the streets? I imagine that they'd be pretty frequent sightings since the metropolitan area isn't all that large and the shipments going out for the test drive are all over the map.
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Old 02-09-2022, 09:34 AM
 
Location: Flyover Country
26,212 posts, read 19,407,113 times
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Quote:
Originally Posted by OyCrumbler View Post
Anyone here live in the area? Are these pickup trucks common sights on the streets? I imagine that they'd be pretty frequent sightings since the metropolitan area isn't all that large and the shipments going out for the test drive are all over the map.
Nope, live near the plant and have seen a grand total of ONE truck out on the streets. In fact, they are producing one truck a day at present.
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Old 03-11-2022, 09:19 AM
 
Location: Flyover Country
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Quote:
NORMAL, Ill. (WMBD) — Rivian has reported producing 2,425 vehicles since the start of production late last year, and that number is expected to grow.

These productions rates are in-line with Rivian’s expectations, despite supply chain issues. Electric vehicle production is expected to ramp up in the second quarter as demand increases.

In 2021, three vehicles were launched, and the first customer delivery was made, said Chief Financial Officer Claire McDonough.

During the fourth quarter alone, the company produced 1,003 vehicles and delivered 909 vehicles, generating $54 million in revenue.

High cost due to inflation and supply chain problems caused a wrinkle, she said, which resulted in higher bills for materials and higher logistics costs such as shipping. As a result, there was a negative gross profit of $308 million.

However, investments will still be made locally.

“Our primary focus will be to ramp up our Normal facility,” she said.

The Normal facility has the ability to produce up to 50,000 vehicles in 2022, if there were no supply chain issues she said.

Despite the constraints, Rivian expects to produce 25,000 vehicles at the plant. Capitol expenditures will increase as well, she said, due to investments in Normal.
https://www.centralillinoisproud.com...oving-forward/
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Old 03-11-2022, 10:46 AM
 
Location: In the heights
36,905 posts, read 38,810,969 times
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Quote:
Originally Posted by odanny View Post

That's a pretty fast ramp up if they're hoping for a total of 25K vehicles for this year. Have you seen more than one truck since early last month?
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Old 03-11-2022, 11:05 AM
 
Location: Flyover Country
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Quote:
Originally Posted by OyCrumbler View Post
That's a pretty fast ramp up if they're hoping for a total of 25K vehicles for this year. Have you seen more than one truck since early last month?
Sure haven't. They are as rare as a white rhino. They also posted a $308 million dollar loss in 2021. Their stock has dropped from about $120 a share to $38
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Old 03-11-2022, 03:39 PM
 
Location: In the heights
36,905 posts, read 38,810,969 times
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Quote:
Originally Posted by odanny View Post
Sure haven't. They are as rare as a white rhino. They also posted a $308 million dollar loss in 2021. Their stock has dropped from about $120 a share to $38
I'm pretty sure they're expecting losses for at least the next few years as most tech-heavy companies do as they try to reach scale.

I know that supposedly people living in Normal itself seem to see these vehicles pretty often, but perhaps they don't get driven out of a very tight area very often? I'd think that if employees are purchasing some of these vehicles, then at least some of those would be employees based in Normal but perhaps the factory side of work doesn't pay well enough to support very much of that
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Old 03-11-2022, 07:20 PM
 
Location: Flyover Country
26,212 posts, read 19,407,113 times
Reputation: 21673
Quote:
Originally Posted by OyCrumbler View Post
I'm pretty sure they're expecting losses for at least the next few years as most tech-heavy companies do as they try to reach scale.

I know that supposedly people living in Normal itself seem to see these vehicles pretty often, but perhaps they don't get driven out of a very tight area very often? I'd think that if employees are purchasing some of these vehicles, then at least some of those would be employees based in Normal but perhaps the factory side of work doesn't pay well enough to support very much of that
There is no way that most of the employees working there can afford the R1T or the SUV, salaries in the shop are between $20 and $24 an hour. It will be interesting to see if they produce 25,000 vehicles this year, I do know some people working there and they are making them work some crazy hours, 12 hour days, sometimes weekends, not sure if that is still in effect (it was during their initial launch phase) but if they want to hit their targets in 2022, they may have to.

Also, being a start up, I've been told that there is a lot of confusion there, sometimes no one is making decisions, sometimes you get conflicting demands, so they are still working things out. Most employees working there have only been there for 2 years, or less.
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Old 03-11-2022, 08:29 PM
 
1,067 posts, read 896,971 times
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I'm rooting for Rivian. The R1T and R1S look really cool. Scaling up production will be extremely difficult and capital intensive. The car industry is extremely competitive with lots of regulations and low margins. Tesla and Ford are the only two US car companies to not go bankrupt...and Ford came very close in 2008. It will be interesting to see how they navigate supply chain issues, inflation, and high oil prices. Rivian's stock price run up was insane exuberance. Tesla at least can mimic tech multiples with SaaS updates, batteries and self driving...all of which are very far along. Rivian has the skateboard technology which Ford and GM were scheduled to use but I believe they canceled those plans. So Rivian really needs to focus on scale.
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