California-based Rivian, the maker of the R1S SUV, R1T pickup, and Amazon Electric Delivery Van , has raised the production guidance for this year after generating almost 70 percent more revenue in Q2 compared to Q1, according to the official letter sent to shareholders yesterday.now aims to produce 52,000 vehicles in 2023, 2,000 more than previously estimated, spurred by the 50 percent gross margin improvement and roughly 50 percent increase in production in the second quarter compared to Q1.
As a business unit, the California-based firm posted a net loss of $1.19 billion, down from $1.45 billion in the previous quarter and $1.71 billion in Q2 2022.
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