It's not easy starting up in the car industry. Huge upfront costs and years getting from an idea to a fully operational and utilised assembly line. Rivian's focus has been with a pickup truck and an SUV. Both look very large but this is the USA where big is good.
Production and deliveries started in late 2021 with about a thousand units each. For 2022, both P & D are up over 2000%, expected as the company ramps up. Just over 20,000 vehicles were delivered and production was close to 25,000. Early expectation was to build 50,000 units in 2022 but that was scaled back to 25,000 early in 2022.
Quarterly increases in deliveries have been more variable than production but they are both going nicely in the right direction. 2023 will be interesting. The company has plenty of orders yet to fill and the plant in Illinois has an annual capacity of 150,000 units.
The problem they seem to be facing is supply issues, which are hampering deliveries. I would have thought 75,000 deliveries in 2023 would be a target they would want to meet as a minimum but time will tell.
Picture source: Rivian.
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