Rivian plant on fire yesterday

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[UberNoob]

At dark time, no shocked to not hear nay media coverage.

 

[TyPope]

Vehicles damaged in overnight fire at Rivian manufacturing plant in Normal | WGLT

Vehicles damaged in overnight fire at Rivian manufacturing plant in Normal
WGLT | By Collin Schopp
Published August 25, 2024 at 9:41 AM CDT

An unknown number of parked vehicles were damaged by a fire Saturday night at the Rivian manufacturing plant in Normal.

Public Information Officer Matt Swaney with the Normal Fire Department says the department was called to the electric car manufacturing plant's parking lot for a vehicle fire shortly before 10 p.m.

He says the fire damaged an unspecified "number of vehicles" in the lot. The fire is out Sunday morning, with no reported injuries to firefighters or Rivian employees.

Kelli Felker, a spokesperson for Rivian, says the company is working to determine the cause of the fire. She says it was contained to the parking lot and the plant itself is unaffected

 

[tmeyer3]

Vehicles damaged in overnight fire at Rivian manufacturing plant in Normal | WGLT

Vehicles damaged in overnight fire at Rivian manufacturing plant in Normal
WGLT | By Collin Schopp
Published August 25, 2024 at 9:41 AM CDT

An unknown number of parked vehicles were damaged by a fire Saturday night at the Rivian manufacturing plant in Normal.

Public Information Officer Matt Swaney with the Normal Fire Department says the department was called to the electric car manufacturing plant's parking lot for a vehicle fire shortly before 10 p.m.

He says the fire damaged an unspecified "number of vehicles" in the lot. The fire is out Sunday morning, with no reported injuries to firefighters or Rivian employees.

Kelli Felker, a spokesperson for Rivian, says the company is working to determine the cause of the fire. She says it was contained to the parking lot and the plant itself is unaffected

I'm so happy to hear this. It was fearing the worst! A few, even many, vehicles is one thing, losing the plant would be.... catastrophic.

 

[UberNoob]

That’s just their pile of cash, all is good.

 

[GatorCyber]

maybe it's arson?

 

[TyPope]

maybe it's arson?

it's crappy to say this but, I hope your are right. EVs don't need another "battery catching fire" story.

 

[DJAlan2000]

Strange thing... Tesla Germany was shut down because of a fire at an electrical fire back in May and because of it, their stock went from $185 down to $168 in 5 days...

But somehow, Rivian has a fire that's likely to close their plant for who knows how long, but their stock price goes UP from $14.36 to $14.48?? Yet Rivian (and all the other EV makers) STILL aren't making any profits either?

But I guess that's the way the stock market REALLY works... Speculation and politics...

Oh well, I have stock in both and both are WAY up from when I purchased last year...

But sure is strange...

 

[RickJ19Zeta8]

Strange thing... Tesla Germany was shut down because of a fire at an electrical fire back in May and because of it, their stock went from $185 down to $168 in 5 days...

But somehow, Rivian has a fire that's likely to close their plant for who knows how long, but their stock price goes UP from $14.36 to $14.48?? Yet Rivian (and all the other EV makers) STILL aren't making any profits either?

But I guess that's the way the stock market REALLY works... Speculation and politics...

Oh well, I have stock in both and both are WAY up from when I purchased last year...

But sure is strange...

Stock is going up, because Rivian sells each truck for a margin loss. So if they can't sell vehicles or make them, their cash position will actually be better at the end of the quarter than if they had.

 

[HaulingAss]

I imagine their rolling stock is insured until they sell them.

If they can't sell all of them, light them on fire! I'm not saying that's what happened here, but I imagine this fire might be a net positive for their financials anyway.

 

[DJAlan2000]

Stock is going up, because Rivian sells each truck for a margin loss. So if they can't sell vehicles or make them, their cash position will actually be better at the end of the quarter than if they had.

Yes but there are still going to be expenditures on LOTS of things that a business does/uses. Depending on how long they are shut down, they may still be paying staff fully and will still have to make all those 'payments' that businesses do, but now they will just have to do it without ANY real revenue coming in.

 

[Obecalb]

it's crappy to say this but, I hope your are right. EVs don't need another "battery catching fire" story.

It wasn’t Tesla so the media will cover it much more measured. Imagine the headlines if this were at a Tesla factory

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