Rivian has just released its quarterly electric vehicle production and delivery numbers for the second quarter of 2023, which turned out to be the best so far.
During the second quarter of 2023, the company produced at its manufacturing facility in Normal, Illinois, 13,992 battery electric vehicles (BEV), which is 218 percent more than a year ago and, of course, a new record. The previous best result was 10,020 units in Q4 2022 so we are talking about a noticeable boost.
In terms of vehicle deliveries, Rivian reports 12,640 units (up 183 percent year-over-year). In this case too it's a new all-time record, far better than the previous one from Q4 2022 (8,054).
Rivian does not disclose the numbers for particular models, so those are the total values of three BEVs: R1T pickup, R1S SUV, and EDV vans for Amazon. As we understand, the R1T and R1S remain the top-selling Rivian model, but there is no official confirmation.
Rivian Q2 2023 results:
- Production: 13,992 (up 218% year-over-year)
- Deliveries: 12,640 (up 183% year-over-year)
Rivian EV Production Results - Q2 2023
Rivian EV Deliveries Results - Q2 2023
So far this year, Rivian produced over 23,000 electric vehicles and delivered more than 20,000, which in both cases means results over three times higher than a year ago.
Rivian results year-to-date in 2023:
- Production: 23,387 (up 236% year-over-year)
- Deliveries: 20,586 (up 262% year-over-year)
The last quarter was very solid for the company, which encourages us that the ramp up accelerated.
In its statement, Rivian briefly repeated its production target of 50,000 electric vehicles in 2023. Considering the recent production rate, it appears very doable.
"These figures remain in line with the company’s expectations, and it believes it is on track to deliver on the 50,000 annual production guidance previously provided."
Cumulatively (since Q3 2021), Rivian produced nearly 49,000 electric vehicles and delivered almost 42,000. Most of the production so far was for the US market (deliveries in Canada started in November 2022).
We don't know what is the current reservation number for the R1T/R1S vehicles, as well as how many vans for Amazon were delivered (out of up to 100,000 contracted). Some updates on this might be released on August 8, 2023 when we see the financial report.
One of the most important news in recent weeks, related to Rivian, was its decision to switch to Tesla's North American Charging Standard (NACS) charging connector, starting in 2025.
Next year, the company will gain access to the Tesla Supercharging network. Nonetheless, the expansion of its own Rivian Adventure Network (RAN) of DC fast charging points will continue. The original target was to deploy 3,500 fast chargers at 600 sites across North America by the end of 2023, but we doubt that it will be completed on time.