(Rivian) Rivian Automotive announced that it produced 2,553 vehicles at the Normal, Illinois, facility in the first quarter of 2022.
The company said it delivered 1,227 vehicles in the same quarter, in line with its own expectations.
Rivian said that following the quarter output and deliveries, it was well-positioned to meet the 25,000 annual production target it set on March 10, 2022.
Rivian CEO RJ Scaringe said the biggest headwinds for the company currently are the supply chain constraints. He said that the company could produce more than 50,000 vehicles in 2022 if it were not for the supply constraints.
The production results in the first quarter affirm that Rivian has successfully navigated production bottlenecks which have hit global automakers in the wake of strained supply chain issues and the geopolitical tensions in eastern Europe.
RIVN: NASDAQ is up +3.15% on premarket.
