Rivian EV Manufacturing Hit A New Document In This autumn 2023 Beating Annual Steerage

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Rivian revealed very optimistic electrical car manufacturing and supply numbers for the fourth quarter and full yr 2023.

Through the fourth quarter of 2023, the corporate produced 17,541 battery electrical autos (BEV) at its manufacturing facility in Regular, Illinois, which is 75% greater than a yr in the past and a brand new document (its third in a row).

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When it comes to car deliveries, Rivian stories 13,972 items (up 73% year-over-year). This outcome can be excellent news, though it is not a document in comparison with the 15,564 items bought in Q3.

We do not know why the corporate was not capable of promote extra autos in This autumn than in Q3, regardless of extra autos being produced (and thus accessible for supply). Hopefully, it was not associated to a requirement situation, which most likely is a priority for Rivian buyers, because the inventory went down by a tenth or so lately, to round $21 per share.

Rivian didn’t disclose the numbers for explicit fashions, so these are the overall values for its three BEVs: R1T pickup, R1S SUV, and EDV industrial vans for Amazon.

Rivian This autumn’2023 outcomes (YOY change):

  • Complete manufacturing: 17,541 (up 75%)
  • Complete deliveries: 13,972 (up 73%)

In 2023, Rivian produced over 57,000 electrical autos and delivered greater than 50,000, which in each instances implies that the outcomes have been greater than two instances increased than a yr in the past.

Rivian Q1-This autumn’2023 outcomes (YOY change):

  • Complete manufacturing: 57,232 (up 135%)
  • Complete deliveries: 50,122 (up 147%)

The manufacturing result’s greater than 3,000 increased than the newest steerage of 54,000 items for 2023 (elevated from 52,000 just a few months in the past).

For reference, in 2022, Rivian produced 24,337 electrical autos and delivered 20,332 to prospects.

Cumulatively, Rivian produced over 82,500 electrical autos and delivered over 71,300. The distinction between the 2 numbers is roughly 11,200 (together with over 3,500 in This autumn) or lower than one quarter’s price of gross sales. Many of the manufacturing to this point was for the U.S. market (deliveries in Canada began in November 2022).

In accordance with a earlier report, 35,751 Rivians have been registered in the USA in the course of the first 10 months of the yr. Via October, The Rivian R1S was the eighth most registered BEV within the U.S. (19,387), simply behind the Tesla Mannequin X.

Most lately, Rivian launched a brand new 400-mile Max Pack battery choice, which ought to appeal to prospects searching for extra vary than the usual 350 miles within the case of the Massive Pack choice.

And right here is the corporate’s personal look again on the 2023:

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