Rivian says it’s on pace to meet 2022 goals after production grew 67% in the third quarter

Workers inspect a Rivian R1T electric vehicle (EV) pickup truck on the assembly line at the company’s manufacturing facility in Normal, Illinois, US., on Monday, April 11, 2022.

Rivian said it produced over 7,000 vehicles in the third quarter.

According to the company, it is on track to produce 25,000 vehicles.

In the morning, shares of Rivian were up about 7%. The stock closed down more than 3% on Monday.

In the third quarter, Rivian produced a total of 7,363 vehicles and delivered 6,584 of them to its customers.

The R1T pickup, the R1S SUV and delivery vans are made at Rivian's factory in Illinois. The company didn't break it down by model.

Rivian had planned to build 50,000 vehicles. The guidance was halved in March because of global supply-chain issues.

The company said it expects to meet the goal of 25,000.

Rivian has produced more than 15,000 vehicles so far this year.