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HomeAutomobileRivian manufacturing grows 67% in 3Q, confirms 2022 objectives

Rivian manufacturing grows 67% in 3Q, confirms 2022 objectives

Employees examine a Rivian R1T electrical car (EV) pickup truck on the meeting line on the firm’s manufacturing facility in Regular, Illinois, US., on Monday, April 11, 2022.

Jamie Kelter Davis | Bloomberg | Getty Pictures

Electrical car maker Rivian Automotive stated Monday that it produced over 7,000 automobiles within the third quarter, its highest quarterly complete so far.

The corporate additionally confirmed that it stays on observe to provide 25,000 automobiles in 2022.

Shares of Rivian have been up about 7% in after-hours buying and selling following the information. The inventory had closed greater than 3% decrease throughout the common buying and selling session.

Rivian stated in an announcement that it produced a complete of seven,363 automobiles at its Illinois manufacturing unit within the third quarter, and that 6,584 automobiles have been delivered to its clients throughout the interval.

Rivian presently makes the R1T pickup, the R1S SUV and supply vans for Amazon at its manufacturing unit in Regular, Illinois. The corporate did not escape manufacturing or deliveries by mannequin.

Rivian had initially anticipated to construct 50,000 automobiles in 2022. But it surely halved that guidance in March, saying on the time that world supply-chain points had “added a layer of complexity” to its plan to extend manufacturing.

The corporate confirmed Monday that it nonetheless expects meet that purpose of 25,000 this 12 months.

12 months so far, by means of the third quarter, Rivian has produced 14,317 automobiles.

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