Rivian Says It Is on Track to Build 50,000 Electric Vehicles This Year: Report

It delivered just under 8,000 vehicles in the first quarter of 2023

2022 rivian r1t stock price drop
(Images: Rivian)

EV maker Rivian reported its production and delivery results for Q1 2023.

As we roll through the post-launch months for the R1T pickup and R1S SUV, Rivian vehicles are getting to be a more common sight on the roads. To that end, the company announced its official figures for the first quarter: It produced 9,395 EVs and delivered 7,946 of them to awaiting customers.

That figure is slightly down on Q4 2022, when it built 10,020 vehicles and delivered 8,054. However, Rivian Automotive says the numbers “remain in line with the company’s expectations, and it believes it is on track to deliver on the 50,000 annual production guidance originally promised.”

Rivian does not break out production and sales figures by model. So, these figures include both the R1T and R1S, but we aren’t sure the exact sales split between the two. Based on anecdotal evidence, at least, the pickup may be the more popular of the two (it’s also officially been available a bit longer). It’s also building the EDV delivery van for Amazon at its Normal, Illinois facility.

The company will announce its first quarter financial results on May 9 at 5:00 PM ET. On announcing its slip in production and delivery figures, Rivian stock prices fell by about $1 per share to $14.70, before rebounding in Monday afternoon’s trading. At time of writing, share prices are down about 3%.