Amazon.com Inc- and Ford Motor Co-backed Rivian Automotive, which at present sources batteries from Samsung SDI, intends to manufacture battery cells of its own, the company’s filing for an initial public offering in the United States showed.
“Given the paramount importance and impact of the battery system on vehicle range, performance, and price, we have built in-house capabilities across the entire value chain,” the electric truck maker said in the filing.
“Over time, we intend to expand our capabilities related to proprietary cell development and in-house cell manufacturing and expect that these functions will grow substantially in the coming years,” it added.
Rivian also said that its proprietary battery cells would “complement third-party cell procurement which will provide supply continuity and support our anticipated growth.”
The auto maker expects capital expenditure of nearly $8 billion through the end of 2023, as it plans to invest in extra manufacturing capacity, battery cell production, charging networks among others.
In April, the company said that it had selected Samsung SDI as a battery supplier for its R1T pickup truck and R1S sport-utility vehicle.