Rivian Recalls 666 R1 Vehicles Over Concerns Of Incorrect Weight Capacity Labeling On Tires

Author: Anan Ashraf | June 25, 2024 07:27am

EV maker Rivian Automotive (NASDAQ:RIVN) is recalling nearly 700 of its model year 2022 and 2023 R1 vehicles owing to incorrect maximum weight capacity labeling on its tires.

What Happened: The labels on certain model year 2022 and 2023 R1T and R1S vehicles’ tires may have an incorrect maximum vehicle capacity weight value, the company said in a filing with the U.S. auto safety regulator National Highway Traffic Safety Administration (NHTSA).

The driver may rely on this incorrect label and overload the vehicle, increasing the risk of a crash, the company said.

As for a solution, Rivian will mail the vehicle owners a corrected overlay tire placard label. The company is not aware of any accidents or injuries owing to the issue in any of its markets, it added.

Why It Matters: Rivian unveiled its second-generation R1 vehicles earlier this month. The new R1S SUV and the R1T pickup have been “completely reengineered through hundreds of hardware improvements, performance upgrades, a fully redesigned software experience, and evolved in-house drive systems,” the company said.

The new R1S and R1T will be produced at the Normal, Illinois factory, and have a starting price of $75,900 and $69,900, respectively.

The company is looking to start production of its cheaper R2, priced at around $45,000 and in the same range as Tesla's best-selling Model Y SUV, in the first half of 2026.

Rivian, which accumulated a loss of nearly $39,000 for every vehicle it delivered in the first quarter, is looking to turn a gross profit this year by primarily cutting costs.

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Read More: Tesla Adds Mercedes-Benz To Supercharger Network Waitlist, Adjusts Timelines For Rival EV Makers

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Posted In: RIVN