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Rivian says it is on tempo to satisfy 2022 objectives after manufacturing grew 67% within the third quarter

Staff 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 Photographs

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

The corporate additionally confirmed that it stays on observe to supply 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 through the common buying and selling session.

Rivian stated in a press release 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 prospects through 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. However it halved that steerage in March, saying on the time that international 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 aim of 25,000 this yr.

12 months so far, via the third quarter, Rivian has produced 14,317 automobiles.

This text was initially revealed by cnbc.com. Learn the authentic article right here.

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