Electric vehicle maker Rivian announced its Q3 production and delivery numbers on Monday, revealing it made 7,363 of its R1T pickup truck and R1S SUV during the three-month period that ended on September 30. Rivian also said it delivered 6,584 vehicles during the same span.
The automaker is still backing its target of delivering 25,000 vehicles over the course of 2022, a goal which it set early in the year and which it reiterated again last quarter, after announcing that it produced 4,401 EVs and delivered 4,467 during that 90-day period, which ended on June 30.
In total across the first three quarters of 2022, Rivian has now produced 14,317 EVs, meaning it’ll have to make more than 10,000 during the final three months of the year to make its target. It has been ramping production significantly quarter-over-quarter, however, increasing production over 67% from Q2 to Q3 and 72% between the first two quarters. Attaining that 25,000 number by year’s end will require just under a 75% bump from where they’re at now, which is a stretch versus past performance, but not a huge one.
The company reports its full Q3 earnings sometime this month, though it hasn’t provided a specific date for those just yet. In Q2, it reported a loss of $1.71 billion and updated guidance to project a $5.45 billion total loss for the year as it continues to spend cash on production capacity.
Rivian founder and CEO RJ Scaringe will be at TechCrunch Disrupt this year, so be sure to check out the event October 18-20 in SF or October 21 online.
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