Rivian had a tougher 2022 than most automakers. At the start of the year, the company blamed inflation and parts shortages, raising the base price of its four-engine R1T pickup truck by a massive $12,000. And as it quickly continued to backtrack, the decision led to a shareholder lawsuit.
Despite these early setbacks, Rivian says it is on track to produce 25,000 vehicles by 2022. shared on Wednesday. Rivian said 4,401 R1S SUVs and Normal were built at its factory in Illinois, and delivered 4,467 vehicles in Q2.
“Supply chain and manufacturing is accelerating”, Rivian CEO RJ Scaringe after the announcement. “We announced 4,401 vehicle production for the second quarter, bringing our cumulative total to 7,969 since the start of production, keeping us on track towards meeting our year-end targets.”
The supply chain and production are accelerating! We announced 4,401 vehicles were built for Q2, bringing our cumulative total to 7,969 since the start of production, keeping us on track towards meeting our year-end targets. Thank you to our team and suppliers.
— RJ Scaringe (@RJScaringe) 6 July 2022
While 4,401 vehicles are a modest number, this is an improvement for Rivian. Beginning in the first three months of the year . It is also notable that the company has managed to scale production while facing many of the same problems that slow its competition. On Saturday, Tesla posted a first-quarter production drop in two years. In the second quarter, the company saw a 15 percent drop in production volume due to continued parts shortages and multiple COVID-19 shutdowns at the critical Shanghai Gigafactory.
Increased production capacity will be critical to Rivian’s survival. In addition to a backlog of nearly 71,000 vehicle pre-orders, the company has an order to fulfill for the minority. Late last year, Rivian announced it would build a second factory in , but that facility won’t be operational until 2024. Until then, the startup is tied to its only factory in Normal, which it says will eventually produce 200,000 vehicles a year.
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