Last week, Rivian released a 2023 production forecast of 50,000 vehicles, double the output achieved last year but below the market's expectations.
Analysts were expecting Rivian to target a production of 60,000-65,000 vehicles for this year, which partly explains why the company's stock dropped 10 percent right after the release of the fourth-quarter earnings last week., but it was planning to keep this information to itself.reported that company executives told employees that production of 62,000 electric vehicles is possible this year.
The report cited unnamed people familiar with the matter as saying the information was passed on at an all-hands meeting on March 3 as part of a"production master plan" for 2023.communicated to investors and pretty much in line with analysts' expectations – according to the average of estimates compiled byGallery: Rivian Manufacturing Plant In Normal, ILMeanwhile, Rivian stands by the 50,000-unit production guidance for 2023 – at least in its public communications.
When Rivian announced the 50,000-unit production forecast on the Q4 2022 earnings call, it said it expected supply-chain hindrances to continue into 2023, limiting output. The automaker noted that it will ramp the second shift at its plant in Normal, Illinois as it advances through the quarter to boost production of the
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Rivian runs the risk of alienating customers who have been waiting years for their vehiclesRivian needs to win back early supporters after production delays have left some without a car since 2019. I just cancelled mine. Just not waiting anymore for a maybe someday. It keeps getting pushed.
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