Skip to Content
Global News Select

Rivian Shares Rise After Sticking to Production Plan

By Dean Seal

 

Shares of Rivian Automotive Inc. rose 8.5% to $29.11 in early trading after the company said it is on track to produce 25,000 electric vehicles this year.

The electric-truck startup said Wednesday that it produced 4,401 vehicles at its manufacturing facility in Normal, Illinois, during the quarter ended June 30.

That figure is in line with expectations and puts Rivian on track to deliver on its previous annual production guidance, the company said.

Rivian has been battling supply-chain problems that stifled factory output in recent months, but the company said in May that those disruptions should ease later this year.

 

Write to Dean Seal at dean.seal@wsj.com

 

(END) Dow Jones Newswires

July 06, 2022 10:12 ET (14:12 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.