Rivian produced 2,553 cars within the first quarter, placing it not off course to fulfill its manufacturing purpose of 25,000 EVs this yr, the corporate mentioned Tuesday.
Rivian additionally reported that it delivered 1,227 cars within the first quarter. The manufacturing figures come with a mixture of the Rivian R1T pickup truck, R1S SUV and the economic trucks it’s making for Amazon, a Rivian shareholder.
“Those figures are in keeping with the corporate’s expectancies, and it believes it’s neatly located to ship at the 25,000 annual manufacturing steerage equipped all over its fourth quarter profits name on March 10, 2022,” the corporate said in a statement.
In March, Rivian lowered its production guidance to twenty-five,000 cars in 2022 because of provide constraints. Analysts had anticipated Rivian to provide nearer to 40,000 EVs in 2022, however provide constraints augmented by means of Russia’s conflict in Ukraine and the lingering results of the pandemic brought about the corporate to regulate its goal.
“The most important constraints we now face in point of fact lie with the availability chain,” CEO RJ Scaringe instructed buyers all over its first-quarter profits name in March. “It’s in point of fact a small selection of portions, for which the provider isn’t ramping on the similar price as our manufacturing traces are ramping up. Have been it now not for provider constraints,” he added, “we’re assured lets succeed in in way over 50,000 cars this yr.”
The Q1 manufacturing effects counsel Rivian has effectively navigated one of the most manufacturing bottlenecks that continuously plague automakers making an attempt to scale operations — and particularly all over one of the crucial extra constrained provide chains in fresh historical past.
Manufacturing grew 150% from the 1,015 cars within the fourth quarter when Rivian first started making and turning in its R1T electrical pickup truck. Deliveries additionally advanced, however now not as considerably, rising simply 22.5% from the 920 cars bought in fourth quarter.
