Electric truck maker Rivian plans to manufacture battery cells in-house

SAN FRANCISCO – Electric truck maker Rivian Automotive, which currently sources batteries from South Korean supplier Samsung SDI, plans to build battery cells in-house, its US IPO filing said on Friday. United.

Actions in this article

The startup, backed by Amazon.com Inc and Ford Motor Co, said in the filing that its own battery cells “will complement the supply of third-party cells, which will ensure continuity of supply and support our expected growth.”

Rivian, who disclosed losses of nearly $ 1 billion in the first half of the year, said he expected capital spending of around $ 8 billion through the end of 2023 to invest in additional manufacturing capacities, production of battery cells, charging networks and others.

WILL UAW WORK AT FORD’S TENNESSEE FACTORIES, KENTUCKY?

“Given the paramount importance and impact of the battery system on the range, performance and price of the vehicle, we have developed internal capabilities across the entire value chain,” said Rivian , adding that this includes battery cell development, battery manufacturing expertise and critical raw materials. supply of materials.

“Over time, we intend to expand our capabilities related to proprietary cell development and in-house cell manufacturing and we expect these functions to expand significantly in the years to come,” said he declared.

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

Samsung SDI plans to build a battery plant in central Illinois, where a Rivian plant is located, U.S. Senator Dick Durbin of Illinois told reporters in August.

Reuters reported in July that Rivian planned to build a second assembly plant in the United States that would also include the production of battery cells, citing people familiar with the matter.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Rivian rival Tesla Inc 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.