Rivian deliveries rose 14.4% year-over-year last quarter, with the company delivering 12,194 vehicles in Q2, up from 10,661 cars the year prior. This positive news comes right after the launch of the R2, which arrived to rave reviews from most critics. The R2's compelling styling and adventurous vibe may help it recapture some of the Tesla Model Y's sales magic.
The company had only expected to deliver between 9,000 and 11,000 cars last quarter. Initial deliveries of the R2 surely helped, but the company says it saw quarter-over-quarter increases for the EDV and R1 too. Rivian expects to significantly grow sales volumes this year, with the brand now saying it expects to sell between 65,000 and 70,000 cars, up from its original plan of between 62,000 and 67,000.
View Price on AmazonRivian says it'll have capacity to build up to 155,000 R2s per year at its Normal, Illinois plant, should the demand be strong enough. This is a hefty figure and doesn't even factor in the increase in capacity when the company's Georgia facility comes online. The R2 won't rely on America alone, as it'll be Rivian's first car sold in Europe, with a smaller form factor that's better suited for export sales than its R1 line.
Yet can it really become a Tesla-Model-Y-like success story? Based on the experience with the car, it's possible to say yes. But with the global market oversupplied with EVs, the tax credit gone, and a slew of new competitors arriving soon, the R2 faces a far tougher market than the Model Y did in 2021. The Model Y also had the sales, service, and brand benefit of Tesla already having scaled Model 3 production back in 2017, when there were no compelling fast-charging EV alternatives anywhere near the price.
Source: insideevs.com
