• Rivian announced a production record for the last quarter of 2022.
• The company assembled 10,020 models from October to December, 10 times more than in the same period in 2021.
• Rivian produced 24,337 models in 2022, narrowly missing its target of 25,000.
After a modest start in 2021, Rivian picked up its production pace in 2022. The fledgling company has hit any number of potholes on the road undertaken since it launched the assembly of its first model about 15 months ago, but it looks now as if it is finally getting up close to cruising speed.
Insideevs reports that the company once again increased its quarterly production rate in Q4 of 2022. During that period, the form produced 10,020 vehicles at its Normal, Illinois plant, which is 2,657 more than in the third quarter, a 36 percent increase. Compared to last year, we're talking about a 10-fold increase in production. The company had produced only 1,003 vehicles in the fourth quarter of 2021.
Rivian also reported 8,054 units delivered in Q4, for an increase of 1,470 over the third quarter, or 22%. So clearly, production has accelerated faster than the pace of deliveries. A year ago, Rivian handed over the fobs to 909 vehicles to its customers.
The company produces two models for the general public, the R1T pickup and the R1S SUV, but it does not disclose the number of units produced and delivered for each. The company's total also includes the EDV 700 vans for Amazon. One can clearly imagine that the van is leading the way, especially since it was the first to show up on the market.
As for the goals the company set for 2022, it almost reached them. The threshold was set at 25,000 units and 24,337 models were produced. In terms of deliveries, Rivian fell a little shorter with a total for 2022 of 20,332 units.
If the current production rate is maintained or perhaps increases a little in 2023, the firm could deliver between 40,000 and 50,000 models in the next year. We're going to start seeing them on the road, especially since, after seeing the American market served first, Canadian customers will start receiving their Rivians at long last.