Rivian has had a more difficult 2022 than most automakers. The company raised the base price of its quad-motor R1T pickup truck by a whopping $12,000 at the start of the year, blaming inflation and component shortages. While it quickly reversed its decision, the decision resulted in a shareholder lawsuit.
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Despite those early setbacks, Rivian claims to be on track to produce 25,000 vehicles by 2022. In a statement released on Wednesday, the company reiterated its prediction. Rivian reported that in fiscal Q2, it produced 4,401 R1T trucks, R1S SUVs, and Amazon delivery vans at its factory in Normal, Illinois, and delivered 4,467 vehicles.
“Supply chain and production are ramping. We just announced production of 4,401 vehicles for Q2 bringing our cumulative total since start of production to 7,969 — keeping us on track to reach our year-end goals,” Rivian CEO RJ Scaringe tweeted after the announcement.
Supply chain and production are ramping! We just announced production of 4,401 vehicles for Q2 bringing our cumulative total since start of production to 7,969 — keeping us on track to reach our year-end goals. Thank you to our team & suppliers.
— RJ Scaringe (@RJScaringe) July 6, 2022
While 4,401 vehicles is a small number, it represents an improvement for Rivian. The startup produced 2,553 vehicles in the first three months of the year. It’s also worth noting that the company was able to scale production while dealing with many of the same issues that slowed its competitors.
Tesla announced its first quarter-over-quarter production decline in two years on Saturday. Due to ongoing parts shortages and multiple COVID-19 shutdowns at its critical Shanghai Gigafactory, the company saw a 15% drop in manufacturing volume in Q2.
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Rivian’s survival will depend on increasing production capacity. In addition to an estimated 71,000 vehicle preorder backlog, the company must fulfill a 100,000 van order for minority owner Amazon.
Rivian announced late last year that it would construct a second factory in Georgia, but that facility will not be operational until 2024. Until then, the company is reliant on a single factory in Normal, which it claims will eventually produce 200,000 vehicles per year.
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