Tesla's rival Rivian EV Production And Deliveries Q1 2023 negative QoQ
Rivian's production and delivery may look good for YoY data but when comparing with Q4 last year (QoQ) it fell and will increase gradually in 2023.
I suspect the surge in YoY data is because of factory shutdown in Q1 last year due to pandemic. Tesla's Q1 2023 sales in China YoY surge 5,000%.
Another worry about Rivian is that the company ignore the current production difficulty while making unrealistic prediction that it'll produce 50,000 cars by 2023 (increase 400%).
Quote:
During the first quarter of 2023, the company produced at its manufacturing facility in Normal, Illinois, 9,395 battery electric vehicles (BEV)... Compared to Q4, the result is lower by 625 units.
In terms of vehicle deliveries, Rivian reports 7,946 units... a bit lower than in Q4 (by 108 vehicles).
As we can see in another chart, the first quarter was mostly the same as Q4 and most likely we should expect that both - production and deliveries - will increase gradually through 2023.
In its Q4 2022 financial report, Rivian was silent about the number of reservations for the R1T/R1S (it was 114,000 as of November 7, 2022), but noted that the net preorder backlog extends into 2024. On top of that, there is a fleet of 100,000 vans for Amazon (including 10,000 originally expected in 2022).
Source:
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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ZnWCOP : Before you invest in Rivian over Tesla, do read this:
Rivian will beat Tesla in 2023 - another FUD
https://www.moomoo.com/community/feed/110449475846150?data_ticket=212ca245a589f1e400fb2e247953bc77&futusource=nnq_noticetab&content_type=feeddetail