Rivian’s promise to upend the auto trade with superbly designed emissions-free, adventure-themed vans and SUVs was virtually depending on the corporate’s capacity to ship precise automobiles to precise clients. And, in that respect, Rivian is getting barely higher.

The corporate introduced that it had produced 4,401 automobiles throughout the second quarter of 2022, a 72 % enhance over the earlier quarter. It additionally delivered 4,467 automobiles to clients, a 267 % enhance over the primary quarter. What number of of these automobiles had been R1T electrical vans and what number of had been its electrical supply vans (EDV) for Amazon, we are able to’t say — Rivian didn’t present a breakdown.

The corporate hasn’t mentioned when it’ll report its Q2 earnings, however there’ll possible be much more purple ink. Final quarter, Rivian reported a web lack of $1.59 billion primarily based on $95 million in income.

The corporate will nonetheless must churn out 18,046 automobiles over the subsequent eight months if it’s to satisfy its aim of 25,000 constructed this yr, or roughly 9,023 automobiles per quarter. That shall be no small process however is actually inside the realm of chance. Over the last earnings name, Rivian mentioned that it has greater than 90,000 reservations for the R1T and R1S automobiles.

The manufacturing information comes because the media (together with The Verge’s Nilay Patel) bought its first impressions of its forthcoming R1S SUV, additional burnishing Rivian’s efforts to turn out to be an actual firm. Unsurprisingly, everybody appears to love it.

However making expertly designed electrical automobiles with spectacular software program and pleasant options has by no means actually been in query. Constructing sufficient of these automobiles to justify its eye-popping IPO valuation after which getting them into clients’ driveways is Rivian’s primary problem and has contributed to the impression that the corporate might have bitten off greater than it might chew.

Rivian went public final fall in one of many largest IPOs ever, however the inventory worth has fallen practically 70 % for the reason that IPO. The corporate mentioned it could be cleaving its business division from its truck and SUV manufacturing in an effort to beat its many hurdles.


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