Rivian has reported its supply and manufacturing numbers for the third quarter of the yr, together with detailing manufacturing points associated to a components scarcity.
On Friday, Rivian introduced in a press launch that it delivered 10,018 automobiles in Q3, together with producing 13,157 items at its Illinois manufacturing facility. The deliveries signify the automaker’s lowest quarterly determine since Q1 final yr, and Rivian additionally shared some perception on its latest issues on the Regular, Illinois manufacturing facility.
The corporate acknowledged that it’s experiencing an ongoing “manufacturing disruption,” attributable to a scarcity of a part that’s included in each the R1 and Rivian Industrial Van (RCV) platforms. Rivian stated that the components scarcity started in Q3 however had develop into more and more extra acute in latest weeks and can proceed into This fall.
The corporate additionally stated that it was reaffirming its annual supply outlook of low single-digit progress in comparison with final yr, with a forecasted vary of about 50,500 to 52,000 automobiles.
Heading into the ultimate three months of the yr, Rivian has delivered 37,396 items and produced 36,749 items. To surpass its 2023 numbers, the corporate’s This fall supply and manufacturing figures would wish to succeed in at the least 12,726 and 20,483, respectively.
In August, it was reported that Rivian was quickly pausing manufacturing of its vans attributable to a components scarcity, although it’s unclear right now if this is similar subject.
On the time of writing, Rivian hasn’t responded to Teslarati’s request for added particulars on the components scarcity.
Rivian plans to carry its Q3 earnings name on November 7 at 5:00 p.m. Jap, together with releasing its financials after market shut on the identical day. You possibly can observe together with the reside webcast right here, or hearken to a replay on the corporate’s investor relations web page for 4 weeks following the preliminary net solid.
Rivian’s Quarterly Deliveries in 2023 and 2024
- Q3 2024 – 10,018
- Q2 2024 – 13,790
- Q1 2024 – 13,588
- FY 2023 – 50,122
- This fall 2023 – 13,972
- Q3 2023 – 15,564
- Q2 2023 – 12,640
- Q1 2023 – 7,946
Rivian’s Quarterly Autos Produced in 2023 and 2024
- Q3 2024 – 13,157
- Q2 2024 – 9,612
- Q1 2024 – 13,980
- FY 2023 – 57,232
- This fall 2023 – 17,541
- Q3 2023 – 16,304
- Q2 2023 – 13,992
- Q1 2023 – 9,395
Rivian-VW partnership and Elon Musk’s take
Within the second quarter, Rivian and Volkswagen introduced a $5 billion funding from the German automaker, the primary $1 million of which appeared within the electrical truck maker’s Q2 financials. The funding is predicted to create a partnership between the 2 corporations to construct electrical automobiles (EVs) and an improved software program platform, together with serving to Rivian put together for manufacturing of the upcoming R2 automobiles.
Final month, Elon Musk shared his ideas on the Volkswagen funding into Rivian, in the end asking the place the German automaker would get the cash for the deal amidst huge cost-cutting measures.
Rivian accredited to broaden its manufacturing facility in Regular, Illinois
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