Rivian Motors has revealed its production and delivery numbers for the third quarter of the year. For the three months period that ended September 30th, the company delivered 6,584 vehicles. Rivian produced 7,363 R1T pickup trucks and R1S SUVs.
The company is still embarking on its target of delivering 25,000 vehicles for 2022 which it set earlier this year. Rivian also reiterated this goal in the last quarter after its announcement that it produced 4,401 electric vehicles and delivered 4,467 electric vehicles for the quarter that ended June 30th.
The company has, therefore, produced 14,317 electric vehicles. To meet its target of delivering 25,000 vehicles this year, the company will need to produce and deliver more than 10,000 vehicles. Rivian has been putting more effort into its production and this showed in the third quarter. The company increased production by more than 67 percent from the second quarter to the third. It will need to increase production by at most 75 percent to meet its target for the year from where production is now.
The company is expected to release its quarterly report later this month. The company’s rivalTesla reported delivery of 343,830 vehicles in the third quarter. Although this is a new record from the delivery numbers it reported earlier this year, it failed to meet the estimates of Wall Street. Wall Street’s estimate ranged from 358,000 to 371,000 vehicles. The company’s operations were affected by the shutdown of its China factory and the challenges it had with opening factories in Berlin and Austin. This took a toll on its deliveries. A rebound was expected, and although the company did see a rebound, it wasn’t up to what had been expected. Tesla produced 19,935 of its Model X vehicles and delivered 18,672 while 345,988 Model Y vehicles were produced and 325,158 of them were delivered.
Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.
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