Rivian Automotive reported that it produced more than 2,500 vehicles while delivering 1,227 in Q1 of 2022, according to a news release by Rivian on Tuesday.
- Amazon-backed EV giant produced 2,553 vehicles at its manufacturing facility in Normal, Illinois, and delivered 1,227 vehicles during the same period.
- These figures match the company’s expectations, and it believes it is well-positioned to deliver on the 25,000 annual production guidance provided during its Q4 earnings call on March 10, 2022.
- Rivian began production and deliveries in September 2021, with the first R1T making their way to customers just before the fourth quarter.
In mid-March, Rivian reported trimming its production target, moving its 2022 guidance from 40,000 to 25,000, citing supply chain challenges. RIVN: NASDAQ is up +1.33%