Rivian 2022 production tally falls short of 25,000

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Electric-vehicle maker Rivian Automotive Inc. RIVN, -5.91% on Tuesday said it produced 24,337 vehicles in 2022 at its manufacturing plant in Normal, Ill., coming up short of a full-year target for 25,000. The production tally comes after Rivian, which has faced production setbacks, in October said it believed it was still on pace to make 25,000 vehicles over that time. Shares slipped 0.2% after hours. The company delivered 20,332 vehicles last year. It produced 10,020 vehicles in the fourth quarter and delivered 8,054 vehicles over that period. Rivian last month said it wouldn’t proceed with a plan to make electric vans in Europe with Mercedes-Benz, only three months after the agreement was struck.

This article was originally published by Marketwatch.com. Read the original article here.

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