Rivian has had a hard time in the past. The company blamed inflation and component shortages for raising the base price of its quad- motor R1T pickup truck. The decision resulted in a shareholder lawsuit.
Rivian is on track to produce 25,000 vehicles in the year 2022. In a statement shared on Wednesday, the company said it still had a prediction. Rivian built and delivered more than 4,000 R1T trucks, R1S SUVs and Amazon delivery vans during the second quarter of the year.
The Rivian CEO said that the supply chain and production were ramping. We just announced production of 4,401 vehicles for Q2 bringing our cumulative total since start of production to 7,969, which is on track to reach our year-end goals.
Supply chain and production are ramping! We just announced production of 4,401 vehicles for Q2 bringing our cumulative total since start of production to 7,969 — keeping us on track to reach our year-end goals. Thank you to our team & suppliers.
— RJ Scaringe (@RJScaringe) July 6, 2022
It is an improvement for Rivian. The startup built 2,553 cars in the first three months. The company was able to scale production despite facing many of the same issues that have slowed its competitors. It was the first quarter-over-quarter production decline for the company. The company saw a 15 percent drop in manufacturing volume in the second quarter due to parts shortages and COVID-19 shutdowns.
Rivian needs increased production capacity to survive. The company has a 100,000 van order that needs to be fulfilled for Amazon. Rivian announced late last year that it would build a second factory in Georgia, but it won't be up and running until at least 2024. The startup depends on its single factory in Normal to eventually produce 200,000 vehicles annually.
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