Delivering a total of 4,467 vehicles in the second quarter of the year , Rivian announced a net loss of $1.71 billion . The initiative, which aims to deliver a total of 25 thousand electric vehicles by the end of the year, announced that it expects a loss of 5.45 billion dollars in total by the end of 2022 .
Rivian, which has shared about the subject in the past months, predicted that it would lose 4.75 billion dollars in 2022 . In short, Rivian increased its year-end loss expectation by 700 million dollars due to the bad course . According to the information provided by Rivian, the main reasons for this situation are the problems in the supply chain and the increase in raw material prices.
With its second quarter results, Rivian delivered a total of 5,694 electric vehicles in the first half of the year . Among these vehicles are both the company’s R1T and R1S models and delivery trucks developed for Amazon.
When we look at the second quarter financial results, we also see that Rivian generated more revenue than expected. Rivian managed to generate $364 million in revenue in the second quarter of the year. According to analysts’ previous estimates, Rivian was expected to generate $338 million in revenue.
Although Rivian has raised its loss expectation, there is a great demand for the company’s vehicles. According to the shared information, the preliminary demand for Rivian’s vehicles has exceeded 98 thousand in June . Time will tell what Rivian can do in the next quarter.