{"id":30781,"date":"2023-07-03T10:25:26","date_gmt":"2023-07-03T14:25:26","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/rivian-follows-tesla-byd-with-strong-ev-deliveries-the-stock-soars\/"},"modified":"2023-07-03T10:25:27","modified_gmt":"2023-07-03T14:25:27","slug":"rivian-follows-tesla-byd-with-strong-ev-deliveries-the-stock-soars","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=30781","title":{"rendered":"Rivian Follows Tesla, BYD With Strong EV Deliveries. The Stock Soars."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000684387\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Rivian Automotive<br \/>\n       made 13,992\u00a0electric vehicles in the second quarter and sold 12,640 units. Investors are happy. <\/p>\n<p>Rivian stock was up about 8% in early trading Monday, at roughly $18 a share. The<br \/>\n        S&amp;P 500<br \/>\n       was down 0.2%. The<br \/>\n        Nasdaq Composite<br \/>\n       was up about 0.2%. Monday\u2019s early gains put Rivian shares up about 25% over the past month. <\/p>\n<div class=\"paywall\">\n<p>Growth is the reason. Production rose more than 200% year over year and grew from 9,395 vehicles produced in the first quarter. Sales rose about 180% year over year and up from 7,946 sold in the first quarter.<\/p>\n<p>Beating expectations helps, too. Wall Street was looking for about 11,000 units delivered. More deliveries mean more sales and, hopefully, a smaller-than-expected second-quarter loss. <\/p>\n<p>Rivian has produced about 23,000 units in 2023 and is well on its way to hitting full-year guidance of about 50,000 units. If Rivian just repeats the second-quarter number in Q3 and Q4, it will end up making about 51,000 units for the full year in 2023.  <\/p>\n<p>Rising production demonstrates the company is making headway in ramping up production. It also shows that supply-chain issues blamed in recent quarters for a slower-than-hoped-for ramp-up are easing. <\/p>\n<p>Rivian isn\u2019t the only solid EV result. <\/p>\n<p>\n        Tesla<br \/>\n       (TSLA) delivered more than 466,000 vehicles, a record.<br \/>\n        Tesla<br \/>\n       stock was up about 6.6% in early trading at about $279 a share. <\/p>\n<p>Meanwhile,<br \/>\n        BYD<br \/>\n       (1211.Hong Kong) delivered about 128,000 battery-electric vehicles in June, also a record for the company. It delivered about 350,000 battery-electric vehicles in the second quarter. <\/p>\n<p>BYD stock rose 4.5% in overseas trading Monday. <\/p>\n<p>Electric vehicles are selling well across the globe, which is good news for all the EV makers, just so long as they can demonstrate growth that keeps up.<\/p>\n<p>Write to Al Root at allen.root@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/rivian-stock-ev-deliveries-tesla-byd-7c82a03?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rivian Automotive made 13,992\u00a0electric vehicles in the second quarter and sold 12,640 units. Investors are happy. Rivian stock was up about 8% in early trading Monday, at roughly $18 a share. The S&amp;P 500 was down 0.2%. The Nasdaq Composite was up about 0.2%. Monday\u2019s early gains put Rivian shares up about 25% over the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":30782,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-30781","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rivian Follows Tesla, BYD With Strong EV Deliveries. The Stock Soars. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Rivian Automotive made 13,992\u00a0electric vehicles in the second quarter and sold 12,640 units. Investors are happy. 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