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EV maker Rivian missed its 2021 vehicle production target by 15%


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SOURCE: http://www.businessinsider.com/rivian-electric-vehicle-missed-2021-vehicle-production-target-ev-r1t-2022-1
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Summary

Electric-vehicle startup Rivian narrowly missed its 2021 manufacturing targets, producing 1,015 cars, it said Monday.The company shared plans in November to produce 1,200 R1Ts, its $67,500 electric pickup truck, and 25 R1Ss, its $77,500 SUV, by the end of the year.Of the vehicles it produced, 920 were delivered to customers by the end of 2021, Rivian said – again falling short of its target to deliver 1,000 R1Ts and 15 R1Ss.The company had warned in its third-quarter shareholder letter, published in mid-December, that it might not meet its production targets, which it attributed to supply-chain disruptions."We expect to be a few hundred vehicles short of our 2021 production target of 1,200, however, we are encouraged by the progress and learnings our team continues to incorporate into our operations," Rivian said in the letter, adding that its team was "incredibly focused" on ramping up production output.The company started deliveries of its R1T in September and its R1S in December.

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