Rivian Q1 production hits 2,553 vehicles amid supply struggles

News

California EV startup Rivian Automotive reported first-quarter production of 2,553 vehicles from its Normal, Ill., manufacturing plant and 1,227 deliveries during the same period as it continues to struggle with supply-chain issues felt throughout the global auto industry.

“These figures are in line with the company’s expectations, and it believes it is well positioned to deliver on the 25,000 annual production guidance provided during its fourth-quarter earnings call on March 10, 2022,” the automaker said in a regulatory filing.

Rivian did not provide production numbers for individual models in the first quarter. Shares in Rivian rose 1.45 percent to $42.80 in after hours trading on Tuesday.

Rivian said during the March earnings call that it could make about 50,000 units a year of its three vehicles if it had enough parts, including semiconductor chips. The company said it has 83,000 preorders of the R1T and R1S, in addition to its initial Amazon order of 100,000 EDVs.

Following Rivian’s start of production in the third quarter of last year, the automaker said that it had produced 1,015 vehicles through the end of the 2021 and delivered 920 of them.

With its first-quarter production report, the total number of vehicles produced this year and last year reached 3,568 as of March 31.

Products You May Like

Articles You May Like

1967 Mustang in a Swamp! – Roadworthy Rescues S1 Ep 1 FULL EPISODE | MotorTrend
Crazy Stunts with the Wheelie Motorhome! | Faster with Finnegan | MotorTrend

Leave a Reply

Your email address will not be published. Required fields are marked *