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Rivian company’s electric car deliveries in the first quarter far exceeded expectations

According to foreign media reports, Cox Automotive and Kelley Blue Book reported that in the first quarter of this year, electric car startup Rivian delivered 8,145 vehicles, greatly exceeding analysts’ previous expectations. 7,000 vehicles, which puts the company on track to deliver 50,000 vehicles in 2023.

Affected by this news, Rivian’s stock price rose 9.88% on Wednesday (currently about 98 RMB), and the company’s market value is US$13.202 billion ( currently about 90.962 billion RMB).

Founded in 2009, Rivian is an emerging electric car maker whose investors include Ford, Amazon and Cox Motors, and is considered one of Tesla’s most threatening competitors.

In the fourth quarter of 2022, the company had a net loss of US$1.723 billion currently about 11.871 billion RMB), which was the same as the net loss of US$2.461 billion in the same period last year (currently about 16.956 billion RMB). Compared with the same period last year, it has narrowed. However, for the full year of 2022, the company will have a net loss of US$6.752 billion (currently about 46.521 billion RMB), which has expanded year-on-year compared with the net loss of US$4.688 billion in the previous year.

At present, the company has experienced two large-scale layoffs and has taken many cost-cutting measures to help it achieve profitability as soon as possible.

In terms of production and deliveries, in the fourth quarter of 2022, the company produced 10,020 vehicles, an increase of 36% quarter-on-quarter, and delivered 8,054 vehicles, an increase of 22.3% quarter-on-quarter. For all of 2022, the company produced 24,337 vehicles, just 663 short of its overall 2022 goal of producing 25,000 vehicles, and delivered 20,332 vehicles.

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James Lopez
James Lopezhttps://www.techgoing.com
James Lopez joined Techgoing as Senior News Editor in 2022. He's been a tech blogger since before the word was invented, and will never log off.

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