EV automaker Rivian said Monday it produced 9,395 vehicles at its factory in Normal, Illinois in the first quarter, lower than the previous period but still on track to hit its 50,000 production goal for the year.
Rivian said it delivered 7,946 of those vehicles in the first quarter. Rivian’s first-quarter delivery numbers just missed analysts expectations. Analysts polled by FactSet expected Rivian to deliver about 8,000 vehicles.
Shares fell 4.3% following the announcement.
Those Q1 numbers were higher than the same quarter last year, a time when Rivian was grappling with supply chain constraints in the midst of scaling up production. Still, they were lower than its Q4 results. Rivian produced 10,020 EVs in Q4 and delivered 8,504 in the same period.
Rivian has struggled with supply chai …
