Rivian Incredible 2022 Year, Despite Set Backs - 24K EVs Delivered

Rivian Incredible 2022 Year, Despite Set Backs - 24K EVs Delivered
Image: Rivian

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Rivian Automotive revealed the quantity of vehicles produced in the quarter ending December 31, 2022 and the amount shipped during that time frame. A total of 10,020 vehicles were fabricated at their Normal, Illinois plant with 8,054 delivered to customers.

In 2022, the company manufactured 24,337 vehicles and sent 20,332 of them out to customers.

Rivian 2022 0-100 quickly
Image: Rivian

In an email to employees, Chief Executive RJ Scaringe acknowledged that more than 700 vehicles were awaiting parts or other necessary services at the end of 2020. He attributed this missed production milestone to a worldwide supply-chain crisis.

Investors paid close attention to Rivian's ambition to build 25,000 vehicles in the midst of global supply-chain issues. In late 2021, they began production of the R1T pickup truck, and followed it up with an electric delivery van for Amazon.com Inc., a major investor. They're also constructing the R1S sport-utility vehicle.

The company attempted to convince investors of its capability to manufacture and deliver its vehicles in bulk to over 100,000 preorder clients. Nonetheless, in early 2022, it was forced to lower its production outlook for the year to 25,000 units, down from 50,000.

The cost of raw materials (cobalt, nickel, lithium) for an individual EV have skyrocketed in two years to stand at $8,255 as of May 2020. This is double the March 2018 figure of $3,381.

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