Rivian Delivered Almost 8,000 Electric Vehicles in 1Q
April 03 2023 - 9:43AM
Dow Jones News
By Will Feuer
Rivian Automotive Inc. said it delivered almost 8,000 vehicles
in the first quarter, a number that the electric-vehicle maker said
is in line with its own expectations and puts it on track to meet
its guidance to produce 50,000 vehicles this year.
The Irvine, Calif.-based company said for the three months ended
March 31, it produced 9,395 vehicles at its plant in Normal, Ill.,
and delivered 7,946 vehicles. In 2022, Rivian manufactured 2,553
vehicles and delivered 1,227 of them to customers during the same
three-month period.
Shares fell 1%, to $15.30, in premarket trading Monday.
The readout from Rivian comes after rival Tesla Inc. said it
delivered 422,875 vehicles to customers globally in the first
quarter, up about 36% from the year before.
Among Chinese competitors, NIO Inc. said it delivered 31,041
vehicles, up 21% from a year earlier, and Li Auto Inc. said it
delivered 52,584 vehicles, up 66% from a year earlier.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
April 03, 2023 09:28 ET (13:28 GMT)
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