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RIVIAN MEETS Q1 TARGETS REAFFIRMING 2023 PRODUCTION GOALS

⚡️ Irvine, CA ⚡️

By Rivian

May 11^th, 2023

During yesterday's earnings call, Rivian shared that we are on track to meet our 2023 production goal of 50,000 vehicles.

RJ was joined by CFO Claire McDonough, COO Frank Klein and Chief Product Development Officer Nick Kalayjian to answer questions from stakeholders, emphasizing our continued focus on production, cost efficiency, customer experience and future platforms and technologies in the months ahead.

Read more about Rivian's Q1 Earnings Results here.

“We had a strong start to the year as our team delivered on our targets including continuing to ramp R1 production, integration of the Enduro motor and LFP battery packs, and improved operating efficiency. Our core priorities for 2023 are unchanged. The team remains focused on ramping production, driving cost reductions, developing the R2 platform and future technologies and delivering an outstanding end-to-end customer experience.”

RJ Scaringe Rivian Chief Executive Officer

RIVIAN MEETS Q1 TARGETS REAFFIRMING 2023 PRODUCTION GOALS

In addition to reaffirming our 50,000 vehicle production target and successfully integrating the Enduro motor and LFP battery pack technology, highlights from the first quarter include:

IIHS TOP SAFETY PICK+ rating for both R1S and R1T
35,000 vehicles produced since the start of production as of March 31, 2023
Over 200 million miles driven by Rivian vehicles
More than 500 cities across the US where EDVs are making deliveries
$12 billion of cash, cash equivalents and restricted cash as of March 31, 2023

RIVIAN MEETS Q1 TARGETS REAFFIRMING 2023 PRODUCTION GOALS

RIVIAN MEETS Q1 TARGETS REAFFIRMING 2023 PRODUCTION GOALS

RIVIAN MEETS Q1 TARGETS REAFFIRMING 2023 PRODUCTION GOALS

RIVIAN MEETS Q1 TARGETS REAFFIRMING 2023 PRODUCTION GOALS

“The team’s achievements during Q1 establish an important base of new technologies that will benefit Rivian for quarters to come.”

RIVIAN MEETS Q1 TARGETS REAFFIRMING 2023 PRODUCTION GOALS

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