Rivian's production has surged, but it still has some ground to make up. Here's how the EV making is faring.
marked by supply chain challenges as well as drastic jumps in the cost of raw materials.
Still, heading into 2023 the automaker issued a forecast of 50,000 vehicles to be completed in the calendar year. In the first quarter Rivian managed to build 9395 vehicles while delivering just 7946, indicating that it would have to play catch up for the rest of the year. Now its second quarter results are in, with Rivian beating expectations with 13,992 vehicles produced and 12,640 delivered. That's a 37% gain in deliveries alone, with the EV maker managing to surpass the quarterly average needed to hit the 50,000 unit mark by the end of the year. Helping these numbers is its third vehicle—theBy comparison, in 2022 Rivian produced 24,337 vehicles, barely missing its self-imposed target of 25,000 EVs.
Even though Rivian appears to have managed to right the ship at last, there are still plenty of challenges ahead.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks making the biggest moves midday: Tesla, Rivian, XPeng and moreThese are the stocks posting the largest moves in midday trading.
Read more »
Rivian beats estimates for second-quarter R1T and R1S deliveries - AutoblogRivian, which announced in February plans to lay off 6% of its workforce, reiterated its annual production target of 50,000 units.
Read more »
Rivian beats estimates for second-quarter EV deliveries, shares jumpRivian Automotive beat market estimates for second-quarter deliveries on higher production and stable demand for its electric vehicles, sending the company's shares up more than 14% on Monday.
Read more »
EV stocks get a broad boost after Tesla, Rivian, Nio report upbeat deliveries dataElectric-vehicle maker stocks got a broad boost Monday, after upbeat delivery and production data from a host of companies in the U.S. and China.
Read more »
Rivian Tripled EV Production And Deliveries In Q2 2023Rivian has just released its quarterly EV production and delivery numbers for the second quarter of 2023, which turned out to be the best one so far.
Read more »
Rivian surges after quarterly production beats expectationsThe Irvine-based automaker told employees internally that output of 62,000 vehicles this year was possible.
Read more »