Rivian says it’s nonetheless on observe to provide 25,000 autos regardless of manufacturing woes

Moreso than most automakers, Rivian has had a tricky 2022. Initially of the yr, the corporate, blaming inflation and element shortages, raised the bottom worth of its quad-motor R1T pickup truck by a whopping $12,000. And whereas it went on to rapidly backtrack, the choice led to a shareholder lawsuit. 

Regardless of these early woes, Rivian says it’s nonetheless on observe to provide 25,000 autos in 2022. The corporate reiterated the prediction in a it shared on Wednesday. Rivian stated it constructed 4,401 , R1S SUVs and at its manufacturing facility in Regular, Illinois and delivered 4,467 autos throughout fiscal Q2.

“Provide chain and manufacturing are ramping,” Rivian CEO RJ Scaringe after the announcement. “We simply introduced manufacturing of 4,401 autos for Q2 bringing our cumulative whole since begin of manufacturing to 7,969 — conserving us on observe to succeed in our year-end objectives.”

Whereas 4,401 autos is a modest tally, it’s an enchancment for Rivian. Within the first three months of the yr, the startup . Simply as noteworthy is that the corporate managed to scale manufacturing whereas dealing with lots of the identical points which have slowed its competitors. On Saturday, Tesla its first quarter-over-quarter manufacturing decline in two years. In Q2, the corporate noticed a 15 p.c drop in manufacturing quantity as a consequence of ongoing elements shortages and a number of COVID-19 shutdowns at its crucial Shanghai Gigafactory.

Rising manufacturing capability might be crucial to Rivian’s survival. Along with an roughly 71,000 car preorder backlog, the corporate has a order it wants to satisfy for minority . Late final yr, Rivian introduced it might construct a second manufacturing facility in , however that facility gained’t be operational till someday 2024. Till then, the startup relies on its single manufacturing facility in Regular, which it says will finally produce 200,000 autos yearly.

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