Rivian Automotive, an electric vehicle (EV) maker, announced on July 4, 2023 that it delivered 12,640 vehicles in the second quarter of 2023. This represents a 59% increase from the previous quarter and a 264% increase from the same quarter in 2022.
The company attributed the increase in deliveries to the ramp-up of production at its plant in Normal, Illinois. Rivian also said that it expects to deliver 25,000 vehicles in 2023.
Rivian's second-quarter deliveries were ahead of expectations. Analysts had forecast that the company would deliver 11,000 vehicles in the quarter.
The company's strong delivery performance comes at a time when the global EV market is growing rapidly. In the first half of 2023, global EV sales grew by 60% year-over-year.
Rivian is one of several new EV makers that are looking to capitalize on the growing demand for EVs. The company has a number of high-profile investors, including Amazon and Ford.
Rivian's second-quarter deliveries are a positive sign for the company. However, it remains to be seen whether the company can sustain its growth in the coming quarters. The EV market is becoming increasingly competitive, and Rivian will need to continue to innovate and invest in its production capabilities in order to succeed.