{"id":30778,"date":"2023-07-03T10:19:14","date_gmt":"2023-07-03T14:19:14","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/rivian-stock-soars-after-ev-production-more-than-triples-in-latest-quarter\/"},"modified":"2023-07-03T10:19:17","modified_gmt":"2023-07-03T14:19:17","slug":"rivian-stock-soars-after-ev-production-more-than-triples-in-latest-quarter","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=30778","title":{"rendered":"Rivian stock soars after EV production more than triples in latest quarter"},"content":{"rendered":"
\n

Shares of Rivian Automotive Inc. powered up toward their best one-day gain in eight months Monday, after the electric vehicle maker announced second-quarter deliveries that nearly tripled, and production data that more than tripled from a year ago.<\/p>\n

The data comes after other EV makers, including Tesla Inc.
\n TSLA,
\n +7.81%<\/bg-quote>
\n and Nio Inc.
\n NIO,
\n +3.83%<\/bg-quote>,<\/span>
\n reported strong deliveries data.<\/p>\n

\n

Rivian\u2019s stock rose 15.7% in morning trading, toward the highest close since Feb. 28. The stock was also headed for its best day since it ran up 17.4% on Nov. 10, 2022, has rocketed 43.4% amid a five-session win streak.<\/p>\n

The Irvine, Calif.-based company said it delivered 12,640 vehicles in the quarter to June 30, up 183.0% from the 4,467 vehicles delivered in the same period a year ago.<\/p>\n

The company produced 13,992 EVs in the latest quarter, up 217.9% from a last year\u2019s 4,401.<\/p>\n

\u201cThese figures remain in line with the company\u2019s expectations, and it believes it is on track to deliver on the 50,000 annual production guidance previously provided,\u201d Rivian said in a statement.<\/p>\n

Shares of Amazon.com Inc.
\n AMZN,
\n +0.36%<\/bg-quote>,<\/span>
\n which was Rivian\u2019s largest shareholder with 158.4 million shares, or 17.0% of the shares outstanding as of March 31, tacked on 0.5% in morning trading. Shares of Ford Motor Co.
\n F,
\n +1.09%<\/bg-quote>,<\/span>
\n which owns 10.5 million Rivian shares, or 1.15% of the shares outstanding, advanced 1.7%.<\/p>\n

The data comes after EV giant Tesla
\n TSLA,
\n +7.81%<\/bg-quote>
\n announced over the weekend second-quarter deliveries rose to a record, and well above expectations. And China-based EV makers, including Nio and XPeng Inc.
\n XPEV,
\n +4.69%<\/bg-quote>,<\/span>
\n reported big month-over-month delivery increases.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Rivian Automotive Inc. powered up toward their best one-day gain in eight months Monday, after the electric vehicle maker announced second-quarter deliveries that nearly tripled, and production data that more than tripled from a year ago. The data comes after other EV makers, including Tesla Inc. TSLA, +7.81% and Nio Inc. NIO, +3.83%, […]<\/p>\n","protected":false},"author":1,"featured_media":30779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-30778","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nRivian stock soars after EV production more than triples in latest quarter | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Rivian Automotive Inc. powered up toward their best one-day gain in eight months Monday, after the electric vehicle maker announced\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=30778\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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