Workers inspect a Rivian R1T electric pickup truck (EV) on an assembly line at the company’s manufacturing facility in Normal, Illinois, U.S., Monday, April 11, 2022.

Jamie Kelter Davis | Bloomberg | Getty Images

Manufacturer of electric vehicles Rivian Automotive on Monday said it produced more than 7,000 vehicles in the third quarter, its highest quarterly figure to date.

The company also confirmed that it is continuing to produce 25,000 vehicles in 2022.

Rivian shares rose about 7% in after-hours trading following the news. Shares closed more than 3% lower in the regular trading session.

Rivian said in a statement that it produced a total of 7,363 vehicles at its Illinois plant in the third quarter and that 6,584 vehicles were delivered to customers during the period.

Rivian currently builds the R1T pickup, R1S SUV and delivery vans for Amazon at its plant in Normal, Illinois. The company did not break down production and deliveries by model.

Rivian originally expected to produce 50,000 vehicles in 2022 in March, this figure was halvedsaying at the time that global supply chain issues had “added a layer of complexity” to its plan to ramp up production.

The company confirmed on Monday that it still expects to hit that target of 25,000 this year.

Since the beginning of the year, until the third quarter, Rivian produced 14,317 vehicles.

https://www.cnbc.com/2022/10/03/rivian-production-grows-67percent-in-3q-confirms-2022-goals.html

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