The 50,000-unit production guidance stands as Rivian is implementing factory upgrades to increase output and reduce costs.
Rivian has posted its financial results for the first quarter, and the numbers and statements from company execs provide hope for the EV startup.after producing 9,395 units in the first quarter – R1T pickup, R1S SUV, and EDV commercial vans combined – and delivering 7,946.
"Production in the first quarter was in-line with our expectations and, as a result, we are re-affirming our production outlook for the year of 50,000 total units," CEO RJ Scaringe said on the first-quarter earnings call on May 9, according toRivian said is implementing factory upgrades that will help it both increase output and reduce costs in the coming months.
"Enduro's providing cost improvements that will result in a significant reduction in our bill of materials," Scaringe said on the call.on the EDV van, for example, the costs of materials for the vehicle line fell by 25 percent, the company said. Previously, Rivian was using an outsourced motor and more expensive nickel-based battery cells in its electric vans.
RJ Scaringe said about half of all R1S and R1T vehicles are expected to use the Enduro motor later this year, with the current Bosch-supplied motors to carry on equipping the other half. As for the LFP packs, the R1 line won't receive them immediately., though, the EV startup did not provide details of its pre-orders at the end of the quarter.
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