Rivian manufacturing grows 67% in 3Q, confirms 2022 targets

Electrical car maker Rivian Automotive stated Monday that it produced over 7,000 autos within the third quarter, its highest quarterly complete to this point.

The corporate additionally confirmed that it stays on monitor to provide 25,000 autos 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 autos at its Illinois manufacturing unit within the third quarter, and that 6,584 autos have been delivered to its clients 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 autos in 2022. However it halved that steerage in March, saying on the time that world 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 objective of 25,000 this 12 months.

Yr to this point, by means of the third quarter, Rivian has produced 14,317 autos.