Rivian automotive on track to build 25K vehicles in 2022

Posted on July 6, 2022
The Normal-based manufacturer made the announcement on Wednesday. (Photo courtesy: WJBC/File photo)

By Blake Haas

NORMAL – Electric-vehicle manufacturer Rivian Automotive (RIVN) is on track to build 25,000 vehicles in 2022.

The Normal-based manufacturer reported the company produced more than 4,000 vehicles in the first quarter despite supply chain constraints.

On the heels of the report, the company’s stock soared 11% on Wednesday. Over the past year, the stock has fallen more than 71%.

“This is a step in the right direction,” Chris Ruedi, a Financial Advisor from Savant Wealth Management, said. “Anytime they can have a good quarter and build on those, I think that’s what going to sustain them, or at least put them in a position to be sustainable for a long time.”

In a company report on Wednesday, Rivian said the Normal plant produced 8,000 vehicles in the past year.

Blake Haas can be reached at [email protected].

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