The Chicago Entrepreneur

Rivian 2022 production tally falls short of 25,000

Electric-vehicle maker Rivian Automotive Inc. on Tuesday said it produced 24,337 vehicles in 2022 at its manufacturing plant in Normal, Ill., coming up short of a full-year target for 25,000. The production tally comes after Rivian, which has faced production setbacks, in October said it believed it was still on pace to make 25,000 vehicles over that time. Shares slipped 0.2% after hours. The company delivered 20,332 vehicles last year. It produced 10,020 vehicles in the fourth quarter and delivered 8,054 vehicles over that period. Rivian last month said it wouldn’t proceed with a plan to make electric vans in Europe with Mercedes-Benz, only three months after the agreement was struck.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Previous post House votes to adjourn until Wednesday after failing to elect new speaker
Next post Crypto: Federal regulators warn banks to beware of ‘significant’ risks surrounding crypto assets