Track apps

Rivian confirms it’s on track to build 25,000 electric vehicles this year – NBC New York

  • Rivian confirmed it was on track to build 25,000 vehicles in 2022, in line with the lowered forecast it released in March.
  • Rivian delivered 4,467 of its electric trucks and SUVs to customers in the second quarter.

Starting electric vehicles Rivian Automotive said it produced more than 4,000 vehicles in the second quarter and remains on track to build 25,000 vehicles in 2022.

Shares of Rivian rose about 10% in morning trading to $29.53.

Rivian said in a statement that it produced 4,401 of its R1T electric pickup trucks and R1S SUVs during the quarter and 4,467 vehicles were delivered to customers during the period. The company has not broken down production or shipments by model.

The company said last year during its IPO round that it plans to build 50,000 vehicles in 2022. But it halve these forecasts in March, saying ongoing global supply chain issues had “added a layer of complexity” to its efforts to ramp up production. The company said Wednesday it still plans to make 25,000 vehicles this year.

Although still small, the market for electric pickup trucks is expected to grow rapidly over the next few years. Ford engine said Tuesday that it sold 1,837 of its electric F-150 Lightning in June and that it has sold 2,296 in total since production began in late May.

From the start of production in late 2021 through the end of June, Rivian has produced a total of 7,969 vehicles.