Shares of Rivian Automotive Inc rose in late trading after the automaker reported an increase in production and reaffirmed its goal to build 25,000 electric vehicles this year.
The company produced 7,363 vehicles in the third quarter and delivered 6,584 to customers, according to a statement Monday. That’s up from 4,401 vehicles built in the prior quarter and 4,467 handed over to buyers.
The stock rose 8.8% to $34.70 at 4:57pm after the close of regular trading in New York. The shares are down 69% this year through Monday’s close.
Rivian builds two consumer battery-electric cars: the R1T pickup and a sport utility vehicle called the R1S. The Irvine, California-based company also manufacturers electric delivery vans for Amazon.com Inc, one of its biggest shareholders, with which it has a contract to deliver 100,000 units by the end of the decade.
More stories like this are available on bloomberg.com
Rivian climbs after ramping up production, reaffirming annual goal
Image: Bloomberg
Shares of Rivian Automotive Inc rose in late trading after the automaker reported an increase in production and reaffirmed its goal to build 25,000 electric vehicles this year.
The company produced 7,363 vehicles in the third quarter and delivered 6,584 to customers, according to a statement Monday. That’s up from 4,401 vehicles built in the prior quarter and 4,467 handed over to buyers.
The stock rose 8.8% to $34.70 at 4:57pm after the close of regular trading in New York. The shares are down 69% this year through Monday’s close.
Rivian builds two consumer battery-electric cars: the R1T pickup and a sport utility vehicle called the R1S. The Irvine, California-based company also manufacturers electric delivery vans for Amazon.com Inc, one of its biggest shareholders, with which it has a contract to deliver 100,000 units by the end of the decade.
More stories like this are available on bloomberg.com
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