On August 10th, local time, Tuesday, the US electric vehicle startup company Rivian announced its Q2 FY2023 financial report.
The data shows that Rivian’s total revenue this quarter reached $1.121 billion, higher than the market’s previous expectation of $1 billion, and a year-on-year increase of 207.69% compared to the same period last year, which was $364 million. As of June 30, Rivian has achieved a total revenue of $1.782 billion this year.
In terms of production and sales, Rivian produced a total of 23,387 new vehicles this quarter and delivered 12,640 new vehicles, a year-on-year increase of 59%.
In addition, Rivian’s operating loss this quarter was $285 million, a significant decrease from $1.708 billion in the same period last year. In terms of capital expenditures, Rivian’s capital expenditures this quarter were $255 million, also a reduction from $359 million in the same period last year. The company stated that this is because last year, it was in the early stages of increasing production and needed to invest a higher amount in equipment and construction.
As previously reported, starting from 2024, Rivian owners will be able to use Tesla Superchargers with an adapter, and starting from 2025, Tesla-style charging ports will become standard on Rivian vehicles, which will also adopt Tesla’s charging standard. Rivian CEO RJ Scaringe said the deal will allow buyers of Rivian electric pickup trucks and SUVs to better “leverage Tesla’s vast charging network.”
The company said it will continue to expand its own charging network while producing the R1T pickup and R1S SUV. The company previously said it plans to build more than 3,500 charging stations.
