MEVCO to customise Rivian R1T for mines

Staff reporter

Australia’s MEVCO (Mining Electric Vehicle Company) has formalised a deal to provide Rivian R1T battery-electric utility vehicles to mines in Australia and other markets.

MEVCO says it will customise the Rivan R1T to meet surface and underground mining specifications, and support mines “on charging infrastructure, maintenance and workflows”.

“The Rivian R1T is widely acclaimed for its on and off-road capabilities, and its robust design and adaptability make it the ideal candidate to meet the many challenges mining presents,” MEVCO CEO Matt Cahir said.

“The shift to electric solutions extends beyond environmental and financial advantages.

“It is about fostering a safer, healthier environment for mine operators, particularly in subterranean settings where the elimination of tailpipe emissions is paramount. The Rivian R1T, in terms of safety and off-road capabilities, stands unparalleled.”

Resource Capital Funds (RCF) is a strategic investor in Melbourne-based MEVCO, which was established in 2022.

NASDAQ-listed Rivian Automotive’s share price had fallen more than 20% in the past month to US$8.63, giving the company a market value of about $8.44 billion.

Rivian produced 57,232 vehicles and delivered 50,122 in 2023, more than doubling production and deliveries from 2022.

The company booked a net loss of $5.43 billion for FY23 compared with $6.75 billion the previous year. Revenue last year was $4.43 billion.

It expects to produce 57,000 vehicles in 2024.


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