Re-Posting: Look What Just Broke -- Holy Mackerel -- Are You Kidding Me? August 16, 2024

Locator: 48434EVS.

Breaking

Later, 2:21 p.m. CDT, August 16, 2024: now making "headlines" over at CNBC noting that in a rising market (today), Rivian is going in the opposite direction. Down 5% for the day.

Later, 10:06 a.m. CDT, August 16, 2024. Holy mackerel -- look what just broke!

More here:

Rivian Automotive Inc. has paused production of the electric commercial van it makes for Amazon.com Inc. due to a parts shortage in the latest supply chain snafu for the EV maker.

The temporary stoppage began earlier this month at its factory in Normal, Ill., according to Rivian. The EV maker declined to specify which components were in short supply, but said it expects to recover all missed production. It provided no timeline.

Part shortages are common in the industry, a Rivian spokesperson told Bloomberg, adding that production of R1 electric pickup and SUV models is unaffected. All affected employees have the opportunity to continue working 40 hours a week during the pause.

Probably a non-story in the big scheme of things, but certainly doesn't help Rivian's credibility. And incredible lack of transparency:

• what parts?
• are the parts unique to the Amazon van, or does it include parts found across Rivian's platforms?
• how did it happen?
• expected date to begin production?

Big question: will CNBC's Phil Le Beau report on this story? So far, not to my knowledge.

More: 

Rivian has amassed a surplus of the delivery vans at the plant that are awaiting delivery to Amazon. The carmaker has a deal to supply the company with 100,000 vans by the end of the decade, and about 15,000 are already in service in the U.S.

Original Post

Continuing our focus on electricity today, we continue with EVs.

Norway: the headline caught my eye. Then the backstory. LOL. The headline: almost every car now being sold in Norway is an EV. Wow. Almost every car. Then the small print: car sales in Norway are down an incredible, whopping 50% year-over-year That's the lowest in fifteen years. Link here.

Norway: re-thinking EVs.

Lucid: oh-oh. It's just a matter of time before Saudi says sayonara. Probably one of the best analyses I've seen on this subject. Link here.

Tesla: this is a story I would have expected in a throw-away, clickbait-heavy source, but here it is, in The WSJ. Amazing. People pay $100,000 for this and then accept what they get without complaining. 

Even after an incredibly bad five years, their shares continue to collapse. 

Rivian, the darling of Wall Street. Over five years it has lost an incredible 90% of its value, but in the past year those loses have continues, having lost almost 40% of its value over the past year.

Lucid, the car company for LIV players. Over five years it has lost 69% of its value, but in the last year, it has lost almost 50% of its value.