Rivian R1T, R1S waiting list out until late 2023 as Australian launch nudges 2024

Rivian has a fast-growing waiting list that currently stretches until at least late 2023.

And Australians will have to wait until the EV startup has established itself in Europe before they will get their hands on the off-road focused R1T ute and R1S SUV.

The details have emerged in the latest filing with the US Securities and Exchange Commission (SEC) that would value the Californian-based company at between US$50 billion and US$55 billion, roughly one-twentieth the value of Tesla.

Still, it’s not bad for a company that by the end of October had only manufactured 180 cars since production started in September. All the Rivians currently produced are the R1T pickup truck, according to the November 1 document (the R1S SUV is planned to enter production in December 2021).

EXCLUSIVE FEATURE: EV ute overload: The electric pickup trucks coming soon
READ MORE: Rivian in Australia: more model names registered
READ MORE: Why electric cars will be more capable off-road

But the brand that already has a cult following in America and Australia – among other markets – also has people queuing to get behind the wheel.

Rivian says it is holding 55,400 orders for the R1T and R1S. Like orders for Teslas – including the delayed Tesla Cybertruck – they’re not firm orders, buyers only asked to put down a refundable US$1000 deposit.

However, given the deposit is 10 times the size of what is required for the Cybertruck, there’s a chance Rivian has a lower percentage who may ask for a refund of the deposit.

Either way, Australians will likely have to wait until at least 2024 until Rivian expands here.

“We expect vehicle demand to outpace our production volumes in the near-term as we work to fulfill customer pre-orders and continue to add to our backlog of pre-orders,” said Rivian in the SEC filing.

While Rivian is planning to ramp up production at Illinois to 150,000 vehicles per year by 2023, there’s a ramp-up between now and then. Beyond that the company is planning an expansion of that plant to get annualised production to 200,000 vehicles.

But already people look set to be waiting at least two years for an order placed today.

“Based on our current production forecast, we expect to fill our pre-order backlog of approximately 55,400 by the end of 2023.”

Keep in mind much of the Rivian production early on will not be for the R1T or R1S but for the EDV or Electric Delivery Van that uses a version of the electrical architecture of the R1S and R1T but packages it in a van.

Rivian says “we plan to deliver 100,000 EDVs to Amazon by 2025” (the online retailing giant has a major investment in Rivian).

Intriguingly, Rivian suggests it plans to ramp up production of right-hand drive EDVs by May 2022.

The R1S and R1T each use four 147kW electric motors for a combined 588kW and 1400Nm. They will be offered with three battery packs: 105kWh, 135kWh and 180kWh, the latter claimed to allow up to 650km between charges.

However, it appears an Australian launch of Rivian will have to wait until the brand has established itself in Europe, despite Rivian recently nominating Australia as a key market for expansion.

Under a heading titled “long-term growth strategy” Rivian details its plans to “pursue international expansion” but that Asia-Pacific countries such as Australia would come after Europe.

“Our launch is focused on the US and Canadian markets. We intend to enter Western European markets in the near-term, followed by entry into major Asian-Pacific markets.”

In another part of the SEC filing Rivian put some timing around the expansion plans, confirming “we expect to enter the Western European market in 2023 with R1 platform variants”.

So best guesses are that Australia will officially get Rivians in 2024 or later.

But there’s a chance some form of local assembly could be on the cards for Rivian in countries such as Australia.

“To serve our global demand, we plan to localise production and supply chains in these regions,” said Rivian in the SEC filing.

And while the company’s production is wholly centred on Illinois for now, it is planning to expand manufacturing into other countries in the longer term.

“We intend to export vehicles to Europe, and over time may consider manufacturing and locating substantial additional operations in Europe,” Rivian said.

It also detailed some of the hurdles that needed to be overcome to sell cars in Europe, including  achieving regulatory approval, which the Australian Design Rules closely align to.

“Unlike the United States, we must obtain pre-approval from regulators to import and sell our vehicles into the EU and countries that recognise EU certification (collectively referred to as ‘Europe’). The process for certification in Europe is known as ‘Type Approval’ and requires Rivian to demonstrate to a regulatory agency in the EU, referred to as the Competent Authority, that our vehicles meet all EU safety and emission standards.”

Either way, it appears plans for Rivian in Australia are progressing but it’s unlikely to happen before 2024.