Rivian Exceeds Wall Street Expectations With Q2 2023 Deliveries and Production Numbers

Rivian R1T and R1S 11 photos
Photo: edited by autoevolution
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Q2 2023 deliveries and production figures are out, and Rivian is doing better than expected. Contrary to Wall Street's bearish stance on Rivian, the California-based electric vehicle automaker delivered 12,640 vehicles and built 13,992 vehicles from April 1 to June 30.
As per the press release attached below, the peeps behind the R1T pickup truck and R1S utility vehicle are on track to assemble 50,000 vehicles this year. To whom it may concern, production and deliveries totaled 9,395 and 7,946 units between January 1 and March 31.

The grand totals currently stand at 23,387 and 20,586 vehicles, respectively. As far as production is concerned, Rivian is nearing the halfway point of its target. In light of these results, RIVN shares jumped 17 percent. Rival companies Tesla, Fisker, and Lucid also saw upswings, but not as large of an upswing as Rivian.

In addition to the R1T and R1S, the company's production facility in Normal, Illinois also makes a cargo van for Amazon. Referred to as the EDV, said workhorse features the RCV platform, derived from the R1 of the R1T and R1S. The two-door panel van is available with three wheelbases: EDV 500 (157 inches), EDV 700 (187 inches), and EDV 900 (205 inches).

The commercial side of the business may be doing fine at press time, but Rivian knows that retail customers are far more important in the long run because automakers live and die by the retail side of the business. For starters, Rivian intends to enter the mainstream in 2024 with the unveiling of the R2S, a smaller-than-R1S crossover that’s expected to start deliveries in 2026.

Rivian is also working on a halo model in the form of the R1X. Believed to be a shortened R1S with two-row seating rather than three, this range-topping model allegedly belts out 1,200 horsepower and 1,200 pound-feet (1,600 Nm) of torque from a quad-motor setup.

Rivian's most potent option as of July 2023 is the Quad-Motor AWD for the R1T and R1S, which is estimated at 835 horsepower and 908 pound-feet (1,231 Nm). The only problem with said powertrain is top speed, which is limited to 111 miles per hour (179 kilometers per hour). Rivian originally advertised 125 mph (201 kph but alas, 111 will have to make do for the time being.

Lower down the spectrum, Rivian offers the Performance Dual-Motor AWD (700 horsepower and 700 pound-feet or 949 Nm) and Dual-Motor AWD (600 horsepower and 600 pound-feet or 813 Nm) in both the R1T and R1S. In regard to driving range, the R1T is better across the board thanks to slightly lower curb weight estimates than its three-row SUV counterpart.

Only $5,000 separates the R1T from the R1S, with the pickup truck currently listed at $73,000 for the most spartan of configurations. Both models can be had with something called All-Terrain Upgrade, which adds underbody protection, all-terrain rubber, as well as a spare tire.
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About the author: Mircea Panait
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After a 1:43 scale model of a Ferrari 250 GTO sparked Mircea's interest for cars when he was a kid, an early internship at Top Gear sealed his career path. He's most interested in muscle cars and American trucks, but he takes a passing interest in quirky kei cars as well.
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