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Rivian's Deliveries Ramp Up Four-Fold

The company remains on pace to hit this year's updated production goals.

Boosted by production ramp-up and demand, Rivian Automotive delivered 4,467 vehicles in Q2.

That's nearly four times the deliveries in the previous quarter, according to Reuters

The company says it remains on pace to manufacture 25,000 vehicles this year. 

The report propped up Rivian's stock, which had lost nearly 75% of its value. 

In March, the company cut 2022 production goals in half due to supply chain shortages. 

At full capacity, Rivian's plant in Normal, Illinois will be capable of producing 200,000 vehicles annually by 2023. 

The company also has plans to open a second plant in the Atlanta, Georgia area in 2025.

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