Rivian’s “Production Master Plan” Targets 62,000 Vehicles in 2023 & Sparks Speculations
Rivian has reportedly informed its employees that it can produce 62,000 electric vehicles in 2023, according to anonymous sources.
The announcement comes just after the company had revealed a 50,000-unit production forecast for 2023, which brought disappointment in the market.
Experts had expected Rivian to aim for 60,000-65,000 units, and the lower forecast plunged the stock prices by 10%.
The new details were shared in an all-hands meeting on March 3 as part of a “production master plan” for 2023.
The 62,000-unit target are close to the average of estimates compiled by Bloomberg, and could ease investor concerns about the company’s ability to meet demand.
However, Rivian has not come out and officially revised its public production guidance, and hence it remains at 50,000 units.
A company spokesperson has suggested that the 62,000 figure was taken out of context, but also did not provide further details.
Rivian’s only factory in Irvine, California has a maximum capacity of 150,000 vehicles per year, and the company is planning to open a second factory in 2026.
Even after the positive response to the production news, Rivian’s stock prices have not fully recovered.
Latest from Business
Geely EX5 Electric SUV Enters Greece as Chinese EV Sales Surge 1423% and Market Grows 13.9%
Chinese automaker Geely has officially entered the Greek market with the launch of its all-electric EX5 SUV on June 24, 2025. The Athens launch event marks a significant step in Geely’s European
Three Mobile Requires Individual Compensation Claims After 14-Hour Network Outage Hits 9,300+ Users
Three Mobile has told customers they can apply for compensation following last Wednesday’s major service outage. The network disruption on June 25 left thousands unable to make calls or send texts for
Qantas Breaks Aviation Record with 9,600km A321XLR Flight on First Asia-Pacific Delivery
Qantas made aviation history on June 30, 2025, when it received its first Airbus A321XLR, becoming the first airline in Asia-Pacific to operate this new type of aircraft. The plane, named ‘Great
BMW Recalls 70,000 EVs for Software Fix: Bug Causes Motors to Shut Down While Driving
BMW is recalling more than 70,000 electric vehicles in the United States due to a software issue that could cause them to suddenly lose power while driving. The National Highway Traffic Safety
Polestar Secures $200M Investment After $2B Loss: Can 84% Revenue Growth Offset $120M Monthly Cash Burn?
Swedish electric vehicle maker Polestar has secured a $200 million equity investment from PSD Investment, controlled by Geely Holding Group founder Li Shufu. The June 16, 2025 deal provides essential working capital
Stellantis Recalls 250,651 Vehicles: Improperly Sealed Airbags Increase Ejection Risk During Crashes
Stellantis announced a major recall affecting 250,651 vehicles in the United States due to improperly sealed side curtain airbags. The National Highway Traffic Safety Administration (NHTSA) confirmed the recall on Saturday, June
Tesla’s Self-Driving Model Y Delivers Itself to Customer at 72 MPH with No Human Inside or Remote Control
In a significant milestone for autonomous driving technology, Tesla completed its first fully driverless delivery of a new car on June 27, 2025. A Model Y SUV transported itself from Tesla’s Gigafactory
Xiaomi YU7 SUV Records 200,000 Orders in 3 Minutes, Challenging Tesla Model Y with Lower Price and Longer Range
Xiaomi has sent shockwaves through the electric vehicle market with its new YU7 SUV, securing over 200,000 firm orders in just three minutes after launch. The Chinese smartphone giant’s second electric vehicle
62,000 Silverados Recalled: Parked Trucks May Catch Fire From Brake Defect
General Motors has issued a major recall for over 62,000 Chevrolet Silverado Medium Duty trucks due to a serious fire risk. The recall affects certain 2019-2024 Chevrolet Silverado Medium Duty 4500HD, 5500HD,
Shell Triggers Six-Month Ban on BP Takeover After Formal Denial
Shell has flatly rejected reports of plans to buy BP, putting itself under a six-month ban from making any offer under strict UK takeover rules. In a direct statement to the London
Deadly Airbag Recall: 2.5 Million French Cars Affected
France has ordered the recall of 2.5 million vehicles equipped with potentially deadly Takata airbags following a fatal accident in Reims. A 37-year-old woman driving a 2014 Citroën C3 died after her
Three UK Voice Services Down: 9,000+ Complaints as Second Major 2025 Outage Hits Post-Merger Network
Three UK’s network crashed Wednesday morning, leaving millions unable to make or receive phone calls in what marks the company’s second major service failure this year. The problems began around 7:45 AM
Honda Recalls 259,000 Vehicles for Brake Pedal Defect That Could Prevent Safe Stopping
Honda is recalling about 259,000 vehicles in the United States because of a potentially dangerous brake pedal defect. The problem could make it hard for drivers to stop their cars properly. The
Ford Recalls 133,000 Lincoln Aviators: Detaching Trim Creates Road Hazards
Ford Motor Company has issued a recall for nearly 133,000 Lincoln Aviator SUVs because of a serious safety issue. The luxury vehicles, spanning model years 2020-2025, have defective trim pieces that could
Waymo Robotaxis Launch in Atlanta: 65-Square-Mile Zone Served by Driverless Fleet with 78% Fewer Crashes
Uber and Waymo have officially launched their robotaxi service in Atlanta, marking another milestone in the expansion of driverless transportation across America. Starting June 23, 2025, Atlanta residents can now hail a
