Rivian Automotive announced on Friday that it will recall nearly all of the vehicles it has shipped to customers in order to tighten a loose bolt that could damage the steering abilities of the drivers. The 2009-founded Electric truck and SUV manufacturer is recalling approximately 13,000 vehicles because a bolt connecting the front upper-control arm and steering knuckle may not be sufficiently torqued.
Rivian stated that seven reports may be related to the issue, but no injuries have been documented.
In a letter to vehicle owners, Rivian CEO RJ Scaringe said, “If you suffer excessive noise, vibration, or harshness from the front suspension, or a change in steering performance or feel, please contact us immediately.”
The Irvine, California-based company stated that the remedy will simply take a few minutes, and it anticipates completing the repairs on all of them within 30 days, with customer cooperation.
Rivian aims to capitalize on the growing demand for electric vehicles among customers and investors. It is one of many companies, both new and old, attempting to steal Tesla’s market share.
It went public last year, and its market value swiftly surpassed Ford and General Motors to become the second-most valuable automaker in the United States, behind Tesla. In contrast, the company’s stock price has declined 67% so far this year.
In March, Rivian announced pricing increases for its automobiles, only to reverse course two days later in response to customer outcry.
In July, Rivian terminated almost 800 employees. It recorded a net loss of $1.6 billion for the first quarter of 2022, and a loss of $1.7 billion for the second.
Last month, Rivian announced a partnership with Mercedes-Benz to construct an electric van manufacturing facility in Europe.
Rivian has been plagued by recurrent production delays due in part to semiconductor supply limitations. Its Illinois factory is capable of producing 150,000 automobiles each year, but the business expects to produce only 25,000 this year. Customers who have purchased a Rivian truck must now wait more than a year to obtain it.