Wedbush analyst Dan Ives says Rivian took 'another big step in the right direction' with its second-quarter results.
bumped its production guidance to 52,000 units for this year, up by 2,000 units from the previous estimate and more than double compared to last year, when it manufactured 24,337 vehicles.
"Demand looks strong for Rivian and visibility improving into 2024," Ives said. The EV startup which has a manufacturing facility in Normal, Illinois built 13,992 vehicles and delivered 12,640 units, topping analysts’ estimates that said deliveries would top out at around 11,000 units in Q2. In the recently released report, Rivian noted that the R1S SUV made up approximately 70 percent of the total production in the previous quarter, making it the first-ever quarter in which the R1T pickup truck was one-upped by the SUV in the manufacturing game.Speaking about demand and pricing strategy, Rivian founder and CEO RJ Scaringe said on a separate occasion that
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.
Tesla Cybertruck Looks Like A Supercar Next To Rivian R1T | CarscoopsTesla’s angular bodywork and low roofline look even more radical when you’ve got a traditionally-styled truck like the R1T providing context car auto cars ⬇️
Read more »
Rivian Raises Production Guidance After Strong Q2 EarningsRivian, the California-based electric vehicle manufacturer, has increased its production guidance for the year following a significant increase in revenue in Q2. The company's profit per vehicle delivered has also improved due to cost reductions and in-house manufacturing of electric drive units.
Read more »
Rivian stock sinks after solid quarter as Wall Street is 'torn' about the EV makerPraise for Rivian Automotive Inc.'s better-than-expected quarterly results failed to boost the EV maker's stock on Wednesday, with most analysts keeping their cautious view on the company and on the direction of the stock in the near term.
Read more »
Rivian's R2 Models To Use A More Simplified And Cheaper Electrical Architecture | CarscoopsRivian will unveil the long-awaited R2 family next year before starting customer deliveries in 2026 car auto cars
Read more »
Tesla's CFO Zach Kirkhorn Steps Down At A Pivotal TimeTesla's Chief Financial Officer, Zach Kirkhorn, has announced his departure from the company after serving in the role since 2019. Kirkhorn, who has been with Tesla for over 13 years, will remain with the company until the end of 2023. Vaibhav Taneja, the brand's Chief Accounting Officer, will take over on an interim basis. This transition comes at a crucial moment for Tesla as it undergoes a significant product shift. Both Kirkhorn and Tesla have confirmed the split through separate statements.
Read more »
Tesla To Build Semi Megacharging Stations From Texas To California — MaybeTesla may build a network of Megacharging stations for its electric Semis, running from Texas to California. The plan, which includes as many as eight 750-kilowatt chargers at each station, would be the first of its kind for commercial trucking in the US.
Read more »