Rivian beats quarterly delivery estimates as EV demand stabilizes
Rivian Automotive reported third-quarter deliveries above analysts' estimates, with 15,564 vehicles delivered. The company is on track to produce 52,000 vehicles in 2023, a target it raised in August from 50,000 vehicles as supply-chain bottlenecks eased.
Rivian Automotive delivered 15,564 vehicles in the quarter ended Sept. 30, exceeding estimates. The company produced 16,304 vehicles at its facility in Normal, Illinois, up from 13,992 in the second quarter. Rivian is on track to produce 52,000 vehicles in 2023. The company has avoided price cuts, instead focusing on reducing costs and building in-house powertrains. Despite a slowdown in the EV industry, Rivian's numbers are a positive sign for the US market.
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