Rivian Automotive Inc (NASDAQ:RIVN) more than doubled vehicle deliveries in the third quarter of its financial year and told investors it is on track to meet its previous production guidance of 52,000 vehicles a year.
The electric vehicle (EV) maker reported a 136% rise in deliveries to 15,564 units, beating FactSet estimates of 14,000.
Production at its Normal, Illinois manufacturing facility jumped 123% to 16,403 vehicles, up from 7,363 a year earlier.
Rivian raised its full-year production target, which was previously set at 50,000, with the release of its 2Q results in August, saying increasing production was the primary lever in its path to profitability.
The company said it will report its 3Q financials after the market close on November 7.
Its shares were down 0.6% at $24.14 in late Monday morning trading.
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