Rivian Automotive Inc (NASDAQ:RIVN) confirmed it is on track to produce 25,000 vehicles this year after a record third quarter.
The electric truck maker said it produced 7,363 vehicles in Q3 at its Illinois factory – the highest quarterly total to date – with 6,584 of them being delivered to customers during the period.
Rivian had originally said it expected to build 50,000 vehicles in 2022, but it revised that guidance down by half in March as global supply chain issues had “added a layer of complexity” to its production plan.
In the year-to-date, through the third quarter, Rivian has produced a total of 14,317 vehicles as it attempts to capture more of the EV market share.
Tesla Inc (NASDAQ:TSLA)’s rival makes the R1T pickup, the R1S SUV and delivery vans for Amazon at its factory in Illinois.
Its shares on Nasdaq were changing hands 7.3% higher in pre-market trading following the news, after closing more than 3% lower during Monday’s regular session.