Rivian sticks to 50,000 vehicle production target for 2023


(Reuters) -Rivian Automotive Inc on Friday said it was sticking to its official production forecast of 50,000 electric vehicles in 2023 after a news report said its executives had told employees it could possibly produce as many as 62,000 this year.    The 62,000 number was said in an internal meeting and taken out of context, a Rivian spokesperson told Reuters.

Bloomberg on Friday cited unnamed sources saying Rivian had told its employees in an all hands meeting that production of 62,000 electric vehicles was possible this year. Executives had described the figure as part of a “production master plan” Bloomberg added.

The Rivian spokesperson told Reuters that the Irvine, California-based maker of electric pickup trucks and SUVs was not changing its official production guidance. She said that the 62,000 figure was from an internal meeting and had been taken out of context, and she declined to comment about a master plan.

Earlier this week, Rivian said it aimed to produce 50,000 cars this year, below analysts’ estimate of 67,170 units, according to Visible Alpha.

Shares of Rivian were up 7% in afternoon trade.


(Reporting by Abhirup Roy in San Francisco and Eva Mathews in Bengaluru; Editing by Shinjini Ganguli and Bill Berkrot)