Rivian boosts second-quarter production and pledges further increases

Rivian Shareholders were informed that the company increased production in the second quarter, Normor, Illinois.production line的electric vehicleThe quantity increased by 50% compared to the first quarter. Deliveries increased by 60%.

Rivian produced 23,387 vehicles in the first half of 2023, reportedly matching its entire output for 2022. During the second quarter, it manufactured 13,992 electric vehicles and delivered 12,640 units.

The company has raised its full-year production forecast to 52,000 units.

Second-quarter total revenue amounted to US$1.1 billion, including US$34 million from regulatory credit sales. The quarter's gross profit stood at negative US$412 million, compared to a negative US$704 million in the second quarter of 2022. The company informed shareholders that gross profit per vehicle delivered improved from negative US$67,329 to negative US$32,595.

The company stated: “The improvement in gross profit was primarily attributable to increased production volumes and our ongoing efforts to reduce material costs through commercial negotiations and engineering design modifications.” “Furthermore, we anticipate achieving positive gross profit in 2024.”