Rivian announces Q1 2022 production & delivery figures and maintains annual guidance

After a worse than expected final quarter of 2021, Rivian announced their Q1 2022 production and delivery figures on Tuesday afternoon.

According to a press release, the produced a total of 2,553 vehicles at its facility in Normal, Illinois from January to March.

That is a significant increase from the 1,015 vehicles they were able to produce from the start of production in late September until December 31, 2021.

On another positive note, Rivian says they were able to deliver 1,227 vehicles in the first three months of the year, 307 more than they were able to deliver last year.

No breakdowns were provided for how many of each of their vehicles (R1T, R1S, EDV) were produced or delivered in the quarter.

According to the company, both figures were in line with expectations. As a result, they are maintaining their annual guidance to deliver 25,000 vehicles this year.

“These figures are in line with the company’s expectations, and it believes it is well positioned to deliver on the 25,000 annual production guidance provided during its fourth quarter earnings call on March 10, 2022,” the company said in a statement.

Rivian lowered their 2022 delivery target from 50,000 units last month, citing difficulties with supply chain constraints and ramping production of three different vehicles.

Unfortunately none of these Q1 deliveries took place in Canada. Rivian has not yet applied for certification from Transport Canada, but according to a recent regulatory filing, they hope to do so by September 2022.

Rivian hopes to apply for certification from Transport Canada by September 2022

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