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Friday, 28 January 2022 10:21

Rivian Reportedly Boosting R1T Production by 300%

Written by Joey Klender, Teslarati

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Rivian is reportedly planning to boost production of the R1T all-electric pickup by 300%, from around 50 units per week to 200, according to Bloomberg.

Rivian’s production rate for the R1T pickup truck at the tailend of 2021 was averaging at around 50 units per week, according to filings the automaker submitted to the SEC.

 

The report indicated some inside sources have stated production at the company’s Normal, IL, production plant halted for about a week at the beginning of 2022. The sources, who wished to remain anonymous, said Rivian was performing fixes and process improvements.

 

Rivian started limited production of the R1T during Q3 2021 and completed the first deliveries just before Q4 began. Most of these deliveries were to employees, but customer deliveries have started as well.

 

As of Dec. 15, Rivian had produced 652 R1 vehicles, delivering 386 of them. Only two were of the R1S all-electric SUV, while the rest of the production and delivery figures were comprised of R1T units. By the end of 2021, Rivian had produced 1,015 vehicles, delivering 920 of them.

 

The news sent Rivian shares upward around 8%. The stock reached levels as high as $179.47 but settled to lower levels following its IPO. At the time of writing, Rivian shares were trading at $54.36, down 49.43% in the past month.

 

Rivian was unable to respond to the reports and declined to comment.

 

Rivian is still working to...


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