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EV maker Rivian beats quarterly delivery estimates
© Reuters. FILE PHOTO: The Rivian name is shown on one of their new electric SUV vehicles in San Diego, U.S., December 16, 2022. REUTERS/Mike Blake
(Reuters) -Electric-vehicle maker Rivian Automotive Inc on Monday beat estimates for first-quarter deliveries, helped by steady demand.
The company said it delivered 7,946 vehicles in the quarter ended March, compared with Visible Alpha estimates of 7,090 vehicles. It delivered 8,054 vehicles in the fourth quarter.
However, Amazon-backed Rivian’s production of 9,395 vehicles at its facility in Normal, Illinois in the reported quarter fell short of estimates due to supply-chain disruptions.
Rivian’s shares fell 0.8% to $15.26 in premarket trading.
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