EV maker Rivian (RIVN) has raised the bar on its EV production goals for 2023. After releasing fourth-quarter and full-year 2022 earnings results this week, the company reportedly told its employees that it can produce 62,000 electric vehicles this year, which is more than double the 24,337 produced in 2022.
Wall Street had expected Rivian to announce EV production guidance in the 60,000 to 65,000 range, but the company stuck to a modest goal of 50,000 vehicles produced this year due to supply chain risks and uncertainties. However, sources familiar with the matter told Bloomberg that Rivian executives said the production of 62,000 electric vehicles is possible this year at a strategic meeting on Friday.
Rivian plans to ramp up its second shift to boost production of the R1T and R1S at its Normal, Illinois, manufacturing facility as it progresses through the quarter. The company spokeswoman told Bloomberg that the new number was discussed internally.
The news of Rivian’s increased production goal has been met with optimism from investors, as it is more aligned with their expectations. If Rivian can reach its goal of 62,000 vehicles produced this year, it will build around 1,000 more vehicles per month than the initial guidance suggested.
Overall, Rivian’s increased production goal is a positive sign for the company and its investors. It shows that the company is confident in its ability to meet demand and produce quality vehicles. With the right strategies in place, Rivian could be well on its way to becoming a major player in the EV market.
FAQ
Q1. When will electric cars be available in the UK?
A1. Electric cars are already available in the UK and can be purchased from a variety of dealerships.
Q2. Where can I find electric car charging stations near me?
A2. You can find electric car charging stations near you by using online maps or apps such as PlugShare or ChargePoint.
Q3. Which electric car is the best?
A3. The best electric car depends on your individual needs and preferences. Some popular models include the Tesla Model 3, Nissan Leaf, and Chevrolet Bolt EV.
