Rivian increased the projected delivery of electric vehicles this year, as demand in the second quarter was stronger than the company ' s original judgement. The company ' s most recent projected delivery throughout the year was 65,000 to 70,000, up from the 62,000 to 67,000 previously awarded.
Delivery in the second quarter was higher than expected
The company disclosed that it produced 12,613 vehicles and delivered 12,194 vehicles in the second quarter. Based on the data quoted by CNBC, this delivery figure is higher than FactSet ' s summary analyst expected and higher than the company ' s previous quarterly guidelines of 9,000 to 11,000.
According to Rivian, the increase in delivery in the second quarter was due mainly to electric distribution vehicles and the flagship R1 series. By 30 July, when the company will publish its second quarterly financial statements, the market will be more concerned about whether the delivery growth will lead to improved revenues and profits.
R2 SUV started delivery
Rivian further states that it initiated the delivery of the medium SUV R2 in the second quarter. The vehicle is currently expanding production at its only whole plant in Nomer, Illinois. The plant's annual capacity is 160,000.
R2 Considered an important vehicle type for Rivian to expand product coverage. As new models begin to enter the market, investors are also observing the rate of increase in their capacity and whether they can continue to support subsequent delivery growth.
Tesla and Lucid will also disclose the data.
Tesla and Lucid are also expected to release delivery for the second quarter on Thursday when Rivian publishes the data. Quarterly delivery data from the United States motor vehicle market are usually used to compare the performance of companies in terms of demand, product structure and capacity implementation.
Additional information:Rivian will publish the second quarterly financial report on 30 July, at which time the market will see more of the growth drive of delivery on income performance.