• btc = $66 565.00 3 069.29 (4.83 %)

  • eth = $3 492.76 95.27 (2.80 %)

  • ton = $7.31 0.10 (1.36 %)

  • btc = $66 565.00 3 069.29 (4.83 %)

  • eth = $3 492.76 95.27 (2.80 %)

  • ton = $7.31 0.10 (1.36 %)

8 Oct, 2022
1 min time to read

Electric truck and SUV maker Rivian has announced a recall of around 13,000 electric vehicles due to the discovery of an improperly fitted fastener connecting the upper control arm and steering knuckle, which could lead to loss of control.

The recall is for electric vehicles manufactured in 2021 and 2022, with no known cases of injury associated with the defect, a company spokesperson said.

The company is currently ramping up production to meet its full-year target of 25,000 vehicles. However, supply problems, especially with semiconductors, continue to hamper this process and have driven up costs.  As a result, Rivian has produced just over 14,000 cars in the first three quarters of this year. This hits the company hard, given that Rivian went public last year in a high-profile initial public offering that briefly boosted its value to over $100 billion, but this year the carmaker's share price has fallen by almost 67%.

The company, for its part, expects the financial impact of the recall to be negligible and hopes to have all of its vehicles inspected within 30 days.

Rivian said it had sent out recall emails to all customers who may be affected.

The safety of our customers will always be our top priority, and we are committed to fixing this issue on any affected vehicles as quickly as possible,

the company said.

The chief executive in the letter urged customers to stop driving their cars if they have problems with steering or suspension problems.

This is the third recall since Rivian began vehicle production late last year. In May, Rivian recalled about 500 electric cars due to a potential problem with passenger airbags, and in August more than 200 cars were recalled due to problems with seatbelt fastening.