Source - Rivian

Rivian’s “Production Master Plan” Targets 62,000 Vehicles in 2023 & Sparks Speculations

March 7, 2023
1 min read

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.

Rahul Somvanshi

Rahul, possessing a profound background in the creative industry, illuminates the unspoken, often confronting revelations and unpleasant subjects, navigating their complexities with a discerning eye. He perpetually questions, explores, and unveils the multifaceted impacts of change and transformation in our global landscape. As an experienced filmmaker and writer, he intricately delves into the realms of sustainability, design, flora and fauna, health, science and technology, mobility, and space, ceaselessly investigating the practical applications and transformative potentials of burgeoning developments.

Leave a Reply

Your email address will not be published.

Latest from Blog

American Public Schools Face Higher Air Pollution

Different races and ethnicities now have access to different air quality, particularly in areas near highways and industrial areas. The first national trends in exposure to nitrogen dioxide and fine particle pollution
Geothermal Plant

Philippines To Get New Geothermal Plants For Clean Energy

Energy Development Corporation President and Chief Operation Officer Richard Tantoco were recognized as one of this year’s ESG, Diversity, and Climate Trailblazers in Governance, Risk, Compliance (GRC) company Diligent’s 2022 Modern Governance

Hard & Durable Material Made From Mushrooms: MyLea

Mycotech is a startup based in Indonesia. They create sustainable products, bio-fibers and majorly specialize in MyLea, a form of sustainable leather. BioBo – bricks made from mushroom and mycelium are sustainable
Provocative Art Made From Daily Trash

Provocative Art Made From Daily Trash

Provocative Art Made From Daily Trash Pablo Llana is a contemporary artist, based out of Tijuana, Mexico. He had been publishing artworks since 2010. His work sculptures are upcycled from food-products waste

Don't Miss