by Zero Hedge
Electric vehicle maker Rivian Automotive is recalling nearly all of its vehicles delivered to customers for a structural defect that could cause drivers to lose steering control.
Bloomberg said Rivian CEO RJ Scaringe sent a letter to customers about the recall. He explained a fastener “may not have been sufficiently torqued” and, in “rare circumstances,” could loosen fully.
WSJ explained more about the “fastener connecting the upper control arm and steering knuckle may have been improperly installed … and could lead to a loss of steering control.”
The recall includes 13,000 vehicles already delivered to customers (or nearly all vehicles the California-based Rivian has produced). The issue has been detected in only seven vehicles, and the voluntary recall is “important to minimize the potential risks,” Scaringe said. There have been no reports of injuries resulting from the issue.
“The safety of our customers will always be our top priority, and we are committed to fixing this issue on any affected vehicles as quickly as possible,” a Rivian spokesperson said in a statement.
The spokesperson added: “We will make any necessary adjustments free of charge at one of our service centers.”
A person familiar with the matter told Bloomberg the cost related to the recall isn’t “material.”
WSJ noted the recall is the third since vehicle production began in late 2021. In May, the company recalled 500 vehicles after an issue was found that could cause the passenger airbags to fail. Then 200 vehicles were recalled in August after problems developed with seatbelt anchors.
Rivian has also had supply chain snarls that have lowered production volumes. Earlier this year, the company raised prices on preorders, upsetting some customers.
Shares of the company have stumbled over the past eleven months, down 56% from last November’s $78 IPO price.