NIO NIO Inc

By Will Feuer

Rivian Automotive Inc. said it delivered almost 8,000 vehicles in the first quarter, a number that the electric-vehicle maker said is in line with its own expectations and puts it on track to meet its guidance to produce 50,000 vehicles this year.

The Irvine, Calif.-based company said for the three months ended March 31, it produced 9,395 vehicles at its plant in Normal, Ill., and delivered 7,946 vehicles. In 2022, Rivian manufactured 2,553 vehicles and delivered 1,227 of them to customers during the same three-month period.

Shares fell 1%, to $15.30, in premarket trading Monday.

The readout from Rivian comes after rival Tesla Inc. said it delivered 422,875 vehicles to customers globally in the first quarter, up about 36% from the year before.

Among Chinese competitors, NIO Inc. said it delivered 31,041 vehicles, up 21% from a year earlier, and Li Auto Inc. said it delivered 52,584 vehicles, up 66% from a year earlier.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

April 03, 2023 09:28 ET (13:28 GMT)

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