Rivian has reported its supply and manufacturing numbers for the third quarter of the 12 months, together with detailing manufacturing points associated to a elements scarcity.
On Friday, Rivian introduced in a press launch that it delivered 10,018 autos in Q3, together with producing 13,157 models at its Illinois manufacturing facility. The deliveries signify the automaker’s lowest quarterly determine since Q1 final 12 months, and Rivian additionally shared some perception on its current issues on the Regular, Illinois manufacturing facility.
The corporate acknowledged that it’s experiencing an ongoing “manufacturing disruption,” attributable to a scarcity of a element that’s included in each the R1 and Rivian Business Van (RCV) platforms. Rivian stated that the elements scarcity started in Q3 however had develop into more and more extra acute in current weeks and can proceed into This autumn.
The corporate additionally stated that it was reaffirming its annual supply outlook of low single-digit progress in comparison with final 12 months, with a forecasted vary of about 50,500 to 52,000 autos.
Heading into the ultimate three months of the 12 months, Rivian has delivered 37,396 models and produced 36,749 models. To surpass its 2023 numbers, the corporate’s This autumn supply and manufacturing figures would wish to achieve no less than 12,726 and 20,483, respectively.
In August, it was reported that Rivian was briefly pausing manufacturing of its vans attributable to a elements scarcity, although it’s unclear right now if this is similar difficulty.
On the time of writing, Rivian hasn’t responded to Teslarati’s request for added particulars on the elements 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 may comply with together with the dwell webcast right here, or take heed to a replay on the corporate’s investor relations web page for 4 weeks following the preliminary internet forged.
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 autumn 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 autumn 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 anticipated to create a partnership between the 2 corporations to construct electrical autos (EVs) and an improved software program platform, together with serving to Rivian put together for manufacturing of the upcoming R2 autos.
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 accepted to increase its manufacturing facility in Regular, Illinois
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