Rivian is recalling about 13,000 vehicles

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Rivian Automotive said Friday it is recalling nearly all vehicles it has delivered to customers to tighten a loose cap that could affect drivers’ ability to drive. The maker of electric trucks and SUVs, which was founded in 2009, said it is recalling about 13,000 vehicles because the fastener connecting the front upper control arm and the steering knuckle may not be tight enough.

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

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

The Irvine, Calif.-based company said the repair will only take a few minutes and expects to work with the customer to complete repairs on all of them in about 30 days.

Rivian is trying to capitalize on the growing interest of consumers and investors in electric vehicles. It is among a long line of companies, new and old, trying to peel market share away from Tesla.

It went public last year and its market value quickly surpassed that of Ford and General Motors to become the second most valuable US carmaker behind Tesla. But that’s no longer the case: The company’s shares have fallen 67% so far this year.

In March, Rivian announced a price hike on its vehicles, only to back off two days later after a backlash from angry customers.

In July, Rivian laid off more than 800 employees. It reported a net loss of $1.6 billion during the first quarter of 2022 and a loss of $1.7 billion in the second quarter.

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

Rivian was plagued by chronic production delays partly due to a shortage of supplies, including semiconductors. Its Illinois plant is capable of producing 150,000 vehicles a year, but the company expects to launch only 25,000 this year. Customers who purchased a Rivian truck have now been waiting more than a year to receive it.

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