Rivian is ramping up production of its R1T electric pickup by almost 4x after its success.
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Rivian continues to demonstrate that it is capable of building electric vehicles and is doing it well. This time, the EV brand will increase production from 50 units to 200 units per week, which is a significant increase with which it is expected to meet demand for its R1T electric pickup.
Rivian built its first production electric truck in September, and depending on where you live, you may have already seen some of them on the road. They're still pretty rare, mostly because Rivian has to focus on making trucks for its biggest investor, Amazon. Production of the R1T adventure car is reported to pick up steam soon as Rivian aims to produce around 200 units a week.
Rivian aims to take a high position in the automotive sector
In early January, Rivian reportedly halted production at its Normal, Illinois plant, in addition to prioritizing Amazon's battery-powered vans to reach its year-end goal of 10,000 50 trucks, to make some upgrades. That meant it wasn't picking up the 56,000 or so truckloads it was picking up each week at the end of December, although it apparently made higher volume possible. Seeing that Rivian had almost orders to process when production began, this is good news.
The automaker originally promised to complete 1200 EVs by the end of 2021, but that didn't happen as 1015 were built and 920 delivered by the end of the year.
The R1S SUV is still produced in a limited edition.
The electric vehicle maker has also begun limited production of the Rivian R1S SUV, although some changes are reportedly still to be made before mass production begins. The company made headlines when , so I wouldn't say it counts for sure. However, it's not surprising that the R1S will be launched in earnest over the next few months.
Even though Rivian is still stumbling, he is still turning a profit for his investors. Stock options fell after an absolutely massive IPO in November, but Ford says money invested in Rivian generated $8,200 billion in revenue in the fourth quarter of last year.
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