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Rivian Reaffirms 25,000 EV Target Despite Supply Chain Pain

  • EV truck maker built more than 2,500 units in first quarter
  • Cash deemed sufficient to move toward another model in 2025
Rivian R1T

Rivian R1T

Photographer: Jamie Kelter Davis/Bloomberg
Updated on

Rivian Automotive Inc. reaffirmed guidance to deliver 25,000 battery-electric vehicles this year, despite ongoing supply chain snarls hampering its ramp in production.

The Irvine, California-based carmaker has built about 5,000 vehicles since production started in September, it said Wednesday. That includes 2,553 units built in the first quarter against a backdrop of assembly line pauses due to parts shortages. The company, which manufactures a mix of pickup trucks, SUVs and commercial vans, delivered 1,227 vehicles to customers in the quarter.