According to foreign media reports, electric vehicle manufacturer Rivian said that in the second quarter of this year, the company delivered 13,790 vehicles, a slight increase from 13,588 vehicles in the first quarter.
the company produced 9,612 vehicles, a significant decrease from 13,980 vehicles in the first quarter.
To some extent, the results were unexpected: Rivian temporarily closed its Normal, Illinois factory in April for a four-week shutdown to upgrade the factory to produce 2025 R1S and R1T cars.
The company had previously expected that the shutdown would have an impact on production.
“From an investor’s perspective, Rivian’s second-quarter production and sales data will be confusing,” Rivian founder and CEO RJ Scaringe warned at Bernstein’s 40th Annual Strategic Decision Conference earlier this year.
He added: “You won’t see many of the benefits until the third quarter.
” What he was referring to was the benefits of this factory upgrade.
, Photo source: Rivian,Rivian delivered 13,790 vehicles in the second quarter, down from 13,972 vehicles in the fourth quarter of 2023 and far below the record of 15,654 vehicles in the third quarter of 2023.
Despite this, Rivian’s second-quarter deliveries were 9% higher than in the second quarter of last year, when Rivian delivered 12,640 vehicles.
, Rivian is trying to bridge the “death valley”, the “gap” between car companies investing high amounts of money early on and achieving profitability and mass sales.
Currently, the company only sells two models, the R1S and R1T, which start at around US$70,000 (excluding the U.S. electric vehicle tax credit policy).
The company plans to launch smaller, more affordable electric vehicles such as the R2 and R3 in the next few years.
, However, Rivian still holds large amounts of cash and confirms that it aims to be profitable this year from existing models.
Recently, Volkswagen Group announced an investment of up to US$5 billion in the company, providing it with huge support.
The two parties will form a joint venture to jointly develop software and electrification architecture.
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