Rivian narrowly misses production targets
The American electric car start-up Rivian built a total of 10,020 vehicles in its Illinois plant in the fourth quarter of 2022. In the same period, Rivian delivered 8,054 electric vehicles.
Even though these production and delivery numbers represent significant increases over the third quarter of 2022, Rivian only just missed its full-year target of 25,000 vehicles produced – in 2022, Rivian built 24,337 cars and delivered 20,332.
The investor letter on the Q1 figures said Rivian built 2,553 vehicles and delivered 1,227 in the opening quarter. This was followed by 4,401 vehicles built and 4,467 delivered in the second quarter. With the increase in Q3 (7,363 vehicles built and 6,584 delivered), Rivian built 14,317 electric vehicles and delivered 12,278 one quarter before the end of the year. It was already clear at the beginning of October that Rivian would have to build 10,683 vehicles in the final quarter in order to reach the target of 25,000 vehicles and this was just missed as 10,020 vehicles were built.
While Rivian still gave a brief assessment of the situation in its short announcement on production and delivery in the third quarter, the company’s announcement about the fourth quarter and full year consist of just three sentences. The company’s targets for 2023 have not been disclosed.
