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Rivian Automotive (NASDAQ:RIVN) shares are trading lower on Monday after the company released Q1 production figures.
According to the announcement, Rivian produced 9,395 vehicles at its manufacturing plant in Normal, Illinois, and delivered 7,946 vehicles during the same period. Rivian stated that these production and delivery numbers are consistent with its projections, and the company is confident in achieving its previously stated annual production target of 50,000 vehicles.
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Additionally, Rivian announced that it will release its financial results for the first quarter of 2023 on May 9th, after the market closes.
Rivian Automotive Inc is an American electric vehicle manufacturer and automotive technology company founded in 2009, which designs, develops, and manufactures category-defining electric vehicles and accessories and sells them directly to customers in the consumer and commercial markets.
RIVN Price Action: Rivian Automotive has a 52-week high of $51.93 and a 52-week low of $12.58.
Rivian Automotive shares are down 2.49% at $15.10 at the time of writing, according to Benzinga Pro.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.