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Rivian announces major vehicle recall




Rivian Automotive announced Friday that it is recalling nearly all of the vehicles it has delivered to customers to tighten a loose fastener.

The electric truck and SUV maker said the problem could potentially affect drivers’ ability to steer.

The recall involves 13,000 vehicles because a fastener connecting the vehicle’s upper upper control arm and steering knuckle may not be tightened enough.

There have been seven reports potentially related to the problem, but no injuries have been reported, Rivian said.

EV MAKER RIVIAN SAYS CURRENT MODELS WON̵[ads1]7;T QUALIFY FOR TAX BREAKS

Rivian announces major vehicle recall

Electric vehicle startup Rivian Automotive Inc. (Photo by Justin Sullivan/Getty Images/Getty Images)

“If you experience excessive noise, vibration or harshness from the front suspension, or a change in steering performance or feel, you should call immediately,” Rivian CEO RJ Scaringe wrote in a letter to car owners.

The company says it’s a quick fix and expects to have completed repairs on all of them in about 30 days.

The company, which was founded in 2009, aims to take advantage of a growing appetite among consumers and investors for electric vehicles.

FORD SELLS MORE SHARES OF EV MAKER RIVIAN

Rivian is among a long line of companies, both new and old, that are trying to peel away market share from Tesla.

Rivian truck at the factory

A Rivian truck on the assembly line (Rivian)

It went public last year, and its market value quickly rose past Ford and General Motors, but has since come back down to earth.

In May, Ford reduced its stake in the company, selling 15 million shares.

Rivian’s stock is down 67% so far this year.

AMAZON, RIVIAN START ROLLING OUT ELECTRIC DELIVERY CAR

Amazon's Rivian vans

Amazon plans to bring customized electric delivery vehicles to more than 100 cities by the end of the year and 100,000 vehicles across the US by 2030.

Amazon has ordered a total of 100,000 electric vans to be delivered by 2030. By the end of 2022, Amazon and Rivian’s electric vans will hit the road in more than 100 cities.

Ticker Safety Last Change Change %
TORN RIVIAN AUTOMOTIVE INC. 33.95 -2.81 -7.64%

Last month, Rivian said it was working with Mercedes-Benz to build a factory in Europe to produce electric vans for both companies.

The Associated Press contributed to this report.



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