Electric truck maker Rivian (RIVN) produced 2,553 vehicles in the first quarter, in line with expectations By Investing.com

© Reuters EV Truck Maker Rivian (RIVN) produced 2,553 vehicles in the first quarter, in line with expectations

Rivian Automotive, Inc. (RIVN) today announced that it produced 2,553 vehicles and delivered 1,227 during the first quarter, which is in line with the electric vehicle company’s expectations.

In 2021, the company produced 1,015 vehicles and delivered 920 vehicles.

The company believes it is well positioned to meet its annual production guidance of 25,000, which it provided during its fourth quarter earnings call last month.

As of March 8, 2021, the company has approximately 83,000 R1 pre-orders from consumers in the United States and Canada.

Rivian shares are down 59% year-to-date.

By Davit Kirakosian

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