Shulou(Shulou.com)11/24 Report--

CTOnews.com November 11 news, the U. S. electric vehicle company Rivian has announced the third quarter of 2022 results.

CTOnews.com learned that Rivian, founded in 2009, is an emerging electric car maker whose investors include Ford, Amazon and Cox Motor Co., and is considered one of the most threatening competitors to Tesla.

In the third quarter of this year, Rivian reported revenue of $536 million, gross profit of minus $917 million, operating loss of $1.77 billion and operating expenses of $857 million, up from $694 million in the third quarter of 2021.

In the third quarter of this year, Rivian R & D expenditure reached US $452 million, with cash and cash equivalents of US $13.8 billion.

It is worth mentioning that Rivian's revenue of $536 million was below market expectations of $551.6 million, but much higher than about $1 million in the same period last year, with a net loss of $1.724 billion, compared with $1.23 billion in the same period last year.

In terms of car production and sales, Rivian produced 7363 vehicles this quarter, an increase of 67% over the same period last year, and delivered 6584. In addition, as of September 30, the company had produced more than 15000 vehicles and reiterated its annual guidance of 25000 in 2022, which means that 11000 vehicles will have to be delivered in the fourth quarter to meet the target.

Since mass production last year, Rivian has been working hard to deliver new cars. Bookings for 114000 vehicles were received by North American users as of November 7, up from 98000 at the end of the second quarter. In addition, the release of Rivian's new R2 platform has been delayed until 2026.

Recently, Rivian launched a second shift of production at its plant in Normore, Illinois, to meet customer needs. In addition, the company said its smaller R2 model will go into production in 2026 at Rivian's plant in George Asia.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.