Zinger Key Points
- Rivian will recall 12,716 vehicles.
- Second major recall in six months.
- Get Monthly Picks of Market's Fastest Movers
Electric vehicle company Rivian Automotive Inc. RIVN said it will recall over 12,000 of its 2022 R1S and R1T vehicles, citing issues with "occupant crash protection," or potentially faulty passenger seat belt system components.
What Happened: As per National Highway Traffic Safety Administration, or NHTSA, website, Rivian will recall 12,716 vehicles. An automatic locking retractor sensor in the front passenger seat of the vehicles may cause suppression or deployment of the air bag, risking passengers, NHTSA said.
See Also: Best Electric Vehicle Stocks
Rivian said that it has decided that “certain model year 2022 R1S and R1T vehicles fail to conform with Federal Motor Vehicle Safety Standard No. 208 "Occupant Crash Protection."
However, the company, in a statement, said the problem is only “on a very small percentage of vehicles.”
Dealers will inspect and replace the front passenger seat belt system components as necessary for customers in affected vehicles. The replacement would be free of cost and can be done without an appointment for up to six days a week, Rivian said in a statement.
Why It’s Important: This is Rivian’s second major recall in six months. In October last year, the company recalled over 13,000 vehicles due to loose fasteners.
Price Action: Rivian fell 8.3% in the premarket trading on Wednesday, according to Benzinga Pro data.
Read Also: Rivian Q4 Earnings Recap: EV Delivery, Production Totals, 2023 Guidance, R2 Update And More
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