Rivian on observe to fulfill manufacturing goal of 25,000 EVs

CALIFORNIA: Electrical car (EV) maker Rivian Automotive Inc stated it’s on observe to realize its manufacturing goal of 25,000 automobiles this yr, sending its shares up 2.4% in prolonged buying and selling.

The corporate stated it had made 2,553 automobiles and delivered 1,227 automobiles within the first quarter. It produced 1,015 automobiles and delivered 920 final yr after beginning deliveries of its R1T pickup truck in the direction of the tip of the third quarter. Rivian stated final month that supply-chain points may minimize its deliberate 2022 manufacturing in half to 25,000 automobiles.

The corporate has a manufacturing facility in Regular, Illinois, the place it at present makes the R1S sport utility car, R1T pickup truck and a supply van for investor and buyer Amazon.com Inc. The manufacturing facility at present has an annual capability of 150,000 automobiles and Rivian has stated it intends to extend that to 200,000 by 2023 because it provides new automobiles.

Rivian will ultimately construct 400,000 automobiles a yr and likewise make battery cells. — Reuters


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