Rivian Faces Setback: Truck Fires Fuel Safety Concerns and Financial Losses

Rivian, a small electric vehicle (EV) truck company, faces significant challenges after 50 of its trucks caught fire. This is particularly alarming as the company only delivers about 10,000 vehicles each quarter, making the incident a substantial setback. With the high cost of Rivian trucks at around $80,000, potential buyers are already cautious, especially concerning battery fire risks. These incidents amplify existing concerns about EV safety, which aren’t as prevalent with gas-powered cars or hybrids. For Rivian to succeed, it must ensure its vehicles are nearly flawless, as any more fires could further damage its financial standing and market trust.