Saturday, December 3, 2022
StartcarsRivian plans to produce 25,000 electric cars by the end of the year

Rivian plans to produce 25,000 electric cars by the end of the year

Rivian has built 7,300 electric vehicles in the last three months and has reaffirmed its goal of producing 25,000 electric cars by the end of the year.

A clear sign that the automaker has strong ambitions to dominate the EV market with its adventurous, emission-free trucks and SUVs.

Rivian's planning for electric car production by the end of the year

Rivian originally hoped to build a total of 50,000 vehicles in 2022. The revised guidance in March raised some doubts about the brand's viability and its long-term goals.

Achieving a production increase of 67% was a positive sign for the automaker at this stage.

In addition to the new production record, Rivian delivered 6,584 vehicles to customers. In total, from the beginning of the year to the end of September, Rivian produced 14,317 vehicles.

That means it will need to set another record producing at least 10,683 units in Q4 2022, which is about 45% more than Q3.

There are currently three different electric models available, which includes the R1T pickup, the R1S SUV, which shares most of its components with the R1T, and its van delivery from Amazon.

Following the announcement, Rivian shares rose by around 12% on Tuesday (4th), after a modest rise of around 4% on Monday (3rd).

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