Rivian Beats Quarterly Delivery Estimates, Remains on Track To Hit 52,000 EVs in 2023

Rivian Automotive on Monday announced production totals for the quarter ending September 30, 2023.

The company produced 16,304 vehicles at its manufacturing facility in Normal, Illinois and delivered 15,564 vehicles during the same period. This is 23% more than in the Q2 2023, raising the total 2023 deliveries to 36,150 EVs.

Analysts estimated that Rivian Q3 2023 deliveries would total 14,000. In 2022, Rivian delivered 6,584 units in Q3.

The Irvine, California-based startup also confirmed that it remains on track to build 52,000 vehicles in 2023, in line with its previous guidance to investors.

The company topped estimates for its second-quarter delivery report in early July. The EV startup delivered 12,640 vehicles in Q2, compared with Wall Street estimates of 11,000 deliveries. In its Q2 report, Rivian raised its full-year production guidance to 52,000 vehicles, nearly double last year’s production.

Rivian currently builds a series of delivery vans for Amazon as well as its own R1T pickup and R1S SUV.

The company also announced that on November 7th, after market close, it will release its third quarter 2023 financial results.

Blagojce Krivevski

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