Rivian 2022 Q1 Earnings Call in 6 mins

From Volter Media.

Rivian just released its earnings report for the first quarter of 2022. The automaker reported huge losses to the tune of Billions. However, things are looking up for Rivian. I today’s video, we will take a close look at Rivians earnings report and the following earnings call
Hi. Welcome to Volter media, where we talk about the latest Rivian news and the exciting things Rivian is doing in the E V industry. Don’t forget to click the subscribe button, and ding the bell to set your preferences to this channel. It really helps out the channel.
Rivian automotive released its earnings report a few days ago. The automaker reported revenue of $95 million from the deliveries of its R1 vehicles. However, Rivian reported a net loss of $1.59 billion in the first quarter of 20 22. The company is bleeding cash so heavily because they are producing at low volume on a high-volume line. Rivian’s factory has been built with a 150,000 run rate in mind, so building fewer units than that will result in higher spending per unit. Rivian expects this to continue in the short term, but to improve as production ramps up. On that note, Rivian said it produced approximately 5,000 vehicles including its electric truck, SUV, and delivery van for Amazon and delivered 1,227 vehicles to customers during the past three months, bringing its total number of deliveries to 2,148. RJ Scaringe stated that Rivian has been able to triple its production capacity from the start of the year to the end of the third quarter to the ramp-up is going as expected or better. He highlighted that production has only tripped because of supply constraints

Please consider subscribing if you want to be enlightened about the best EVs in different categories.
Subscribe – bit.ly/3m6HVyR
Join our Rivian subreddit for the latest Rivian News https://bit.ly/3zaOFCt
Support Volter Media when you shop on Amazon at no extra cost: http://bit.ly/VM-Amazon
ChargePoint 50amps 240v EV Charger: https://amzn.to/3KzvM1x
Lectron – Tesla to J1772 Adapter: https://amzn.to/36bfPj0
Dell XPS 15: https://amzn.to/30PepbB