Rivian Hits 25,000 Vehicle Production Goal For 2022!

[kurtlikevonnegut]

No - and I stand by the fact that it would be very obvious if anything more than had already been released was available. And still not sure Rivian would hold a mini celebration and not have reason to celebrate.

If I'm going to take a 15% range hit I'd much rather have the 20" ATs than a balloon sail.

Sponsored

 

[COdogman]

I think every truck delivered in January should come with a set of those balloons

 

[virgnia_rivian]

Rivian press release.
https://rivian.com/newsroom/article/rivian-produced-10020-vehicles-in-q4-2022

 

[evguy]

So according to Rivian's release, they fell just short of the 2022 25k target. Guess you can't believe everything that random people post on Twitter and Facebook after all?!

 

[VSG]

So according to Rivian's release, they fell just short of the 2022 25k target. Guess you can't believe everything that random people post on Twitter and Facebook after all?!

Rivian produced 24,337 in 2022 and 1,015 in 2021, for a total of 25,352 made.

So the original tweet which said "Rivian is celebrating their 25,000 vehicle made" was 100% accurate.

 

[evguy]

Rivian produced 24,337 in 2022 and 1,015 in 2021, for a total of 25,352 made.

So the original tweet which said "Rivian is celebrating their 25,000 vehicle made" was 100% accurate.

Right you are! It's just the title of the original post that needs correcting.

 

[VSG]

Right you are! It's just the title of the original post that needs correcting.

Yup. I don't know whether the title was changed by the Administrator (happens a lot) or whether the OP read one thing then typed something different.

 

[aliasyvr]

Hmm looks like they produced just over 10K in Q4. Looking at the past few quarters wondering if they'll hit >60,000 for 2023?

 

[SANZC02]

Right you are! It's just the title of the original post that needs correcting.

They had an internal memo to employees that said they had 25,051 come of the line for the quarter but 714 are still in various stages of QA or waiting on parts so they are not ready for delivery and are not counting against the target.

All in all a pretty decent quarter. Looking forward to the earnings report and what the 2023 target will be.

 

[Count Orlok]

How did they ever think they would hit 50k? I mean, I am happy they hit the revised goal of 25k but they are a long way from even hitting 50k per year.

 

[SANZC02]

How did they ever think they would hit 50k? I mean, I am happy they hit the revised goal of 25k but they are a long way from even hitting 50k per year.

The media has been saying that for awhile now. I try to stay up to date on announcements and I never saw an official number that said 50k was a target, I always assumed it was a guess that they would be through the 50k preorders discussed in the IPO by end of 2022 but I never found it in the filing.

If anyone has actually seen that as an official target somewhere I’d like to know where they found it

 

[Guy]

Hmm looks like they produced just over 10K in Q4. Looking at the past few quarters wondering if they'll hit >60,000 for 2023?

They should hit 60k for this year and really need to financially so they are set up for the 2025 gap year (with Georgia now pushed back a year they need the money).

 

[Yossarian]

They should hit 60k for this year and really need to financially so they are set up for the 2025 gap year (with Georgia now pushed back a year they need the money).

Has Rivian actually provided guidance on their 2023 production target? I would think that's coming with the Q4 earnings call, that I believe is scheduled for early Feb. The Normal facility is certainly capable of more than 60k vehicles, but there were (are?) other constraints that limit their ability to produce.

 

[kurtlikevonnegut]

How did they ever think they would hit 50k? I mean, I am happy they hit the revised goal of 25k but they are a long way from even hitting 50k per year.

Well they didn't start the second shift until late in Q3 due to part shortages. If they hadn't been resource constrained for most of the year, they could have started the second shift soon after the first shift and made....oh hey look at that.... roughly 2x the number of vehicles.

 

[shrink]

I always assumed it was a guess that they would be through the 50k preorders discussed in the IPO by end of 2022 but I never found it in the filing.

The IPO prospectus on page 5 actually says this:

“Based on our current production forecast, we expect to fill our preorder backlog of approximately 55,400 by the end of 2023.”

Sponsored