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Rivian has set some impressive production targets.
"Sources told Bloomberg that Rivian is building annual capacity for about 300,000 electric vehicles (EVs) and aims at as many as 40,000 in its first full year — or an average of almost 800 a week. That would compare with the nearly 5,000 vehicles a week that Tesla built at its Fremont, Calif., factory in 2018 — the first full year of production for the mass-market Model 3 electric car. Rivian hasn't publicly stated its production goals.
Rivian looks to launch an electric pickup truck, the R1T and an electric SUV, the R1S, both targeting off-road explorers and adventurers. But it's really counting on electric delivery vans for guaranteed revenue, with Amazon a key customer. It has retrofitted a former Mitsubishi factory in Illinois, which made its last car six years ago.
"It's such a huge step going from producing prototypes to actually putting together a thousand vehicles a week," Mark Wakefield, an analyst at auto consultant AlixPartners, told Bloomberg. "It's hard to over-emphasize that point."
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"Sources told Bloomberg that Rivian is building annual capacity for about 300,000 electric vehicles (EVs) and aims at as many as 40,000 in its first full year — or an average of almost 800 a week. That would compare with the nearly 5,000 vehicles a week that Tesla built at its Fremont, Calif., factory in 2018 — the first full year of production for the mass-market Model 3 electric car. Rivian hasn't publicly stated its production goals.
Rivian looks to launch an electric pickup truck, the R1T and an electric SUV, the R1S, both targeting off-road explorers and adventurers. But it's really counting on electric delivery vans for guaranteed revenue, with Amazon a key customer. It has retrofitted a former Mitsubishi factory in Illinois, which made its last car six years ago.
"It's such a huge step going from producing prototypes to actually putting together a thousand vehicles a week," Mark Wakefield, an analyst at auto consultant AlixPartners, told Bloomberg. "It's hard to over-emphasize that point."

EV Stocks Rebound As Tesla Rival Rivian Eyes This 'Huge Step'
Amazon-backed Rivian looks to go from producing prototypes to building about a thousand vehicles a week. Tesla, Nio and EV stocks rallied on various news.
