(Finance) – Rivian Automotivea US-based electric pickup manufacturer, has produced 4,401 vehicles and delivered 4,467 vehicles in the second quarter in 2022 (from 1,227 units delivered in the previous three months). He generated $ 364 million in revenues, compared to the $ 337.5 million forecast by analysts, according to Refinitiv data. The company, which went public on Wall Street in November 2021 with a maxi IPO and then more than halved its valuation, generated a negative gross profit of $ 704 million in the quarter.
“So long as we produce low-volume vehicles on production lines designed for higher volumeswe have and will continue to report a negative gross profit related to labor and overhead costs “, is emphasized in the note on the accounts. net loss for the second quarter of 2022 it was $ 1,712 million, compared with a loss of $ 580 million in the same period last year.
“Our equipment, people, systems and supply chain continue to show progress as we work towards our guidance for 2022 production of 25,000 units“For this year, Rivian said. As of June 30, 2022, the backlog of pre-orders for the R1 vehicle was approximately 98,000 units from consumers in the United States and Canada.