Rivian Automotive Inc., a developer of electric vehicles, says Russia’s invasion of Ukraine is increasing supply chain costs and risks.
Rivian blamed “operational interruptions and delays” on the Russia-Ukraine conflict, the pandemic, and inflation in a regulatory filing on Thursday. The war has also increased component prices, particularly battery metals, according to the Irvine, California-based business.
The Amazon.com Inc.-backed EV startup has struggled to scale up manufacturing. Earlier this month, the business made an embarrassing U-turn on boosting pricing, blaming a supply chain shortage and price pressures. It also anticipated 25,000 automobiles, half of what the company’s Normal, Illinois, facility can make.
In the filing, Rivian stated price volatility is anticipated to continue for the foreseeable future. The company did not expressly relate the price concerns to the conflict.
Rivian mentioned Ukraine 13 times in the file. The corporation has previously noted growing commodity costs and continued component sourcing issues, but had not specifically mentioned the conflict.