Rivian confirms it’s on track to build 25,000 electric vehicles this year

Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill.

Rivian automotive said it produced more than 4,000 vehicles in the second quarter, and that it is on track to build 25,000 vehicles in the next four years.

In the morning, Rivian's shares were up 10%.

Rivian said in a statement that it produced 4,401 of its electric R1T pickup and R1S SUV in the quarter and delivered 4,467 of them. The company didn't break it down by model.

In its IPO prospectus, the company said it would build 50,000 vehicles. Its efforts to ramp up production have been complicated by global supply-chain issues. This year, the company expects to make 25,000 vehicles.

The electric pickup market is expected to grow quickly over the next few years. In the month of June, Ford sold 1,837 of its electric F-150 Lightnings, and it has sold more than two thousand in total since May.

Rivian produced a total of 7,970 vehicles from the beginning of production through the end of June.