Rivian (RIVN) rallies after topping Q2 deliveries expectations

Rivian Automotive (NASDAQ: RIVN) shares are moving higher in pre-market Monday after the company said it produced 13,992 electric vehicles (EVs) in the quarter ending June 30.

The EV company also said it delivered 12,640 units. Analysts were looking for production numbers of 12,562 and deliveries of 11,302.

“These figures remain in line with the company’s expectations, and it believes it is on track to deliver on the 50,000 annual production guidance previously provided,” the EV company said in a press release.

Rivian is due to report its Q2 results on August 8.

RIVN shares are down 9.6% year-to-date through Friday’s close.

By Senad Karaahmetovic

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