Rivian constructed up a stockpile of batteries for its vans, SUVs, and industrial vans earlier than and after the election of Donald Trump, a technique used to melt the blow of the president’s tariffs, in keeping with Bloomberg Information.
The corporate apparently purchased an undisclosed variety of lithium iron phosphate batteries from Chinese language agency Gotion earlier than the election. The batteries had been for Rivian’s supply vans, the majority of that are made for Amazon. After the election (though it’s not clear precisely when) Rivian labored with Samsung SDI “to maneuver a considerable amount of battery stock to the U.S. from South Korea,” Bloomberg reviews.
The stockpiles ought to assist cut back the pricing stress brought on by Trump’s auto tariffs, that are utilized to parts that automotive firms convey into the U.S. to make use of in automobiles. Trump altered these tariffs this week, offering some reduction in comparison with his authentic plan of making use of an across-the-board 25% tax on imported elements; Trump’s revised tariff plan will nonetheless probably result in value hikes on new vehicles.
