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Rivian Deliveries Surge Backed by Production Amplification

Rivian, the electric car maker, reveals that its connections have grown exponentially, supported by increased production

Rivian Automotive Company delivered 4,467 vehicles during the second quarter, nearly quadrupling its deliveries from the previous quarter after the company benefited from increased production and strong demand.

The company also stated that it is on track to achieve its annual production target of 25,000 vehicles after the volume of production increased by 72% on a quarterly basis to 4,401 vehicles during the three months ending in June, which pushed Rivian shares to rise by 13% to compensate for losses that amounted to three-quarters of its value during This year’s stock sell-off. Read more [Ford Motors is Giving Up More Shares of Rivian].

Despite the widespread trend towards electric vehicles and the growth in demand for Rivian products in light of the high fuel prices due to the Russo-Ukrainian war, the company has struggled to boost its production in the face of supply chain disruptions and severe shortages of many components and parts. Its production for 2022 is halved.

At its Normal, Illinois, plant, Rivian produces its R1S electric sports utility vehicle, the R1T electric truck, as well as a delivery truck for its investor and customer giant Amazon, which has an 18% stake in the company. Read More [Rivian Shares Jump Despite First-Quarter Loss].

The Illinois plant has an annual production capacity of 150,000 vehicles, and the company has stated that it intends to increase the capacity to 200,000 vehicles by 2023, and Rivian also plans to open its second plant near Atlanta Georgia in 2025 as it anticipates growing demand for its vehicles. Read more [Rivain Warns of Production Damage Due to Supply Disruptions].

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