Rivian Electric Pickup, SUV Production Ramps Up After Bruising 2021
Rivian is producing more of its futuristic-looking, emissions-free cars than ever these days; 7,363 vehicles(Opens in a new window) came off the line of its Illinois plant in Q3, more than any previous quarter since production began in late 2021, while 6,584 were delivered to customers across the country.
A court ruling regarding a Rivian plant in Georgia, however, may derail some of that progress.
CEO RJ Scaringe has promised to produce 25,000 vehicles in 2022, following a disappointing 2021 that saw only 1,015 vehicles produced and 920 delivered to customers, according to a somber Q4 2021 shareholder letter(Opens in a new window). Rivian is now closing in on that goal as supply chain woes clear up. It produced 2,553 vehicles(Opens in a new window) in Q1 2022, 4,401 vehicles(Opens in a new window) in Q2, and now 7,363 vehicles in Q3. The automaker has to crank out 10,683 in Q4 to hit its target.
The numbers do not include a breakdown between Rivian’s two models: the R1T pickup truck and R1S SUV. Both start around $75,000 but can easily climb to over $100,000 after customers choose(Opens in a new window) the battery pack, interior/exterior, wheel type, and extra accessories.
Rivian is looking to ramp up production with the help of a second, $5 billion factory in Georgia. But the future of that facility is now in question after Chief Judge Brenda Holbert Trammell of the Ocmulgee Superior Courts ruled against the $1.5 billion in tax incentives the state previously offered Rivian to build the factory, The Verge reports(Opens in a new window).
The high-tech facility is expected to produce 400,000 emissions-free vehicles a year and employ 7,500 workers at an average annual salary of $56,000, but Trammell is skeptical(Opens in
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