Photo: Rivian
Hindered by the global semiconductor shortage that continues to plague the automotive industry, electric vehicle maker Rivian still managed to produce 4,401 vehicles in the 2nd quarter of the year.
The 42% increase in production over the first three months of the year was a huge boost for the company, despite the supply chain headwinds, and kept their goal of 25,000 vehicles this year in sight. Production at the former Mitsubishi plant in Illinois is limited by the chip shortage and only runs a few days a week in an effort to meet customer orders. The company plans to be running day and night shifts five days a week in the latter part of the year.
The Wall Street Journal reported that the company stated at the end of March they had $17 billion in cash, and to stem further losses, which reached $1.6 billion in the first quarter, production must be increased. The plant has the capacity to manufacture 150,000 vehicle per year.
Rivian is also facing competition from more established carmakers. The Ford Motor Company reported its electric vehicle sales rose by 77% in June alone, establishing momentum for the legacy manufacturer. Ford expects an increase in production of the Ford F-150 Lightning and Mustang Mach-E will bolster sales in July.
Originally formed as Avera Motors in 2009 (changed to Rivian in 2011) the company focused on autonomous and electric vehicles. They currently offer two models of electric vehicles; the R1T pickup truck and the R1S SUV. The company also produces an electric delivery van in a partnership with Amazon. The vehicles are built on a 'skateboard' platform that can accommodate future designs.
The company has ambitious plans to develop an exclusive charging network throughout the U.S. and Canada. Those efforts are supported by several facilities in the Western United States and Canada. Plans are underway for a second vehicle manufacturing facility in Georgia.
The Wall Street Journal reported that the company stated at the end of March they had $17 billion in cash, and to stem further losses, which reached $1.6 billion in the first quarter, production must be increased. The plant has the capacity to manufacture 150,000 vehicle per year.
Rivian is also facing competition from more established carmakers. The Ford Motor Company reported its electric vehicle sales rose by 77% in June alone, establishing momentum for the legacy manufacturer. Ford expects an increase in production of the Ford F-150 Lightning and Mustang Mach-E will bolster sales in July.
Originally formed as Avera Motors in 2009 (changed to Rivian in 2011) the company focused on autonomous and electric vehicles. They currently offer two models of electric vehicles; the R1T pickup truck and the R1S SUV. The company also produces an electric delivery van in a partnership with Amazon. The vehicles are built on a 'skateboard' platform that can accommodate future designs.
The company has ambitious plans to develop an exclusive charging network throughout the U.S. and Canada. Those efforts are supported by several facilities in the Western United States and Canada. Plans are underway for a second vehicle manufacturing facility in Georgia.
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