Rivian is gearing up to expand production of its electric vehicles and significantly reduce costs over the course of the year, but Tuesday's first-quarter earnings report will reflect reduced sales stemming from factory downtime.
The automaker produced and delivered fewer vehicles in the January-March period than the previous quarter. It reported 7,946 deliveries in the first-quarter compared with 8,054 in fourth-quarter 2022.
Rivian executives previously warned that an upgrade of its commercial van assembly line would reduce output temporarily to add its new in-house Enduro motor and a less expensive iron-phosphate battery pack.