Rivian (RIVN) expects to meet 50k unit goal in 2023

Electric automaker, Rivian (NASDAQ: RIVN) announced Monday that the company delivered 7,946 vehicles in the quarter ended March, compared with estimates of 7,090 vehicles. It delivered 8,054 vehicles in the fourth quarter.

However, Rivian's production of 9,395 vehicles at its facility in Normal, Illinois in the reported quarter fell short of estimates due to supply-chain disruptions.

Rivian described the delivery and production figures as being in line with its own expectations. The company also expects that it is on pace to meet its production goal of 50,000 units for the year. Rivian will post its first-quarter results after the closing bell on May 9.

Shares of RIVN are down 3.89% in early trading on Monday.

By Michael Elkins | [email protected]m

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