Rivian plans to produce 18k vehicles in 2H’22: Earnings Call Transcript

Rivian plans to produce 18k vehicles in 2H’22: Earnings Call Transcript

Published August 12, 2022
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Rivian Automotive announced Thursday its second quarter financial results reporting revenue of $364 million while reiterating the annual production guidance of 25,000 units after producing fewer than 7,000 in the first half of 2022.

During the second quarter, Rivian produced 4,401 vehicles and delivered 4,467 vehicles saying that its average daily preorder rate “accelerated in Q2 of 2022 compared to Q1 of 2022”. The company added that “Supply chain continues to be the limiting factor of our production”.

Good day and thank you for standing by and welcome to Rivian’s Second Quarter 2022 Earnings Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded. I would now like to hand the conference over to your speaker today, Tim Bei, Vice President of Investor Relations and Strategic Finance. Please go ahead.

Good afternoon and thank you for joining us for Rivian’s second quarter 2022 earnings call. Joining us on today’s call, we have RJ Scaringe, our Founder, Chairman and Chief Executive Officer and Claire McDonough, our Chief Financial Officer. A copy of today’s shareholder letter is available on our Investor Relations website.