The United States electric car startup Rivian announced the second quarter of fiscal year 2023 financial results.
The data show that Rivian’s total revenue for the quarter amounted to 1.121 billion U.S. dollars (currently about 8.105 billion yuan), higher than the previous market expectations of 1 billion U.S. dollars (currently about 7.23 billion yuan), compared with 364 million U.S. dollars in the same period a year ago (currently about 2.632 billion yuan), a year-on-year increase of 207.69%. As of June 30, Rivian has generated $1.782 billion (currently about RMB 12.884 billion) in revenue this year.
In terms of production and sales, Rivian produced 23,387 new vehicles and delivered 12,640 new vehicles during the quarter, representing a 59 percent increase in deliveries year-over-year.
In addition, Rivian reported an operating loss of US$285 million (RMB2,061 million) for the quarter, a significant decrease from US$1,708 million (RMB12,349 million) in the same period last year. In terms of capital expenditures, Rivian reported capital expenditures of $255 million (RMB 1.844 billion) for the quarter, down from $359 million (RMB 2.596 billion) for the same period last year, which officials said was due to the company being in the early stages of production ramp-up last year and needing to invest a higher amount in equipment and construction.
Rivian owners will be able to use Tesla Superchargers with adapters starting in 2024 and will make Tesla-style charging ports standard on their vehicles starting in 2025, as well as adopting Tesla’s charging standards. Rivian CEO RJ Scaringe said the deal will give buyers of Rivian’s all-electric pickup trucks and Rivian CEO RJ Scaringe said the deal will allow buyers of Rivian’s all-electric pickup trucks and sport utility vehicles to better “take advantage of Tesla’s vast network of charging stations”.
The company said it will continue to expand its charging network as they build the R1T pickup and R1S SUV. The company has previously said it plans to build more than 3,500 charging stations.