Rivian Sales Rise As Tesla’s Fall
Rivian is on a roll.
The electric truck company delivered a better than expected 15,564 vehicles during the third quarter, an 23% increase over the prior three months, as it continues to ramp up production.
Rivian currently builds three models at its Normal, Ill., factory.
The R1T pickup and R1S SUV are consumer products, while the EDV is a delivery van supplied to Amazon, which is a major company shareholder.
Rivian said it is looking to finish the year with 52,000 deliveries.
RIVIAN INVADES JEEP TERRITORY WITH FIRST ALL-ELECTRIC RUBICON TRAIL RUN
Meanhwile, Tesla reported a nearly 7% drop in deliveries for the quarter, with 435,059Â vehicles shipped worldwide from all of its factories.
The figure was on the low end of Wall Street estimates, but Tesla said it was due to “planned downtimes for factory upgrades.”
THE TESLA CYBERTRUCK PERFORMANCE MODEL ‘KICK’S ASS NEXT-LEVEL’
Tesla recently unveiled updated versions of the Model 3 and Model Y that are built at its Shanghai, China, factory, while its Austin, Texas, facility is being prepared to build the Cybertruck pickup.
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