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Rivian Q3 Deliveries Beat Expectations

Automotive Monday did report record third quarter deliveries of its electric vehicles producing 16,304 cars at its factory in normal Illinois. The company said it does remain on track to produce 52,000 s this year and it comes after it took steps earlier in 2023 to reduce spending and bolster its balance sheet on February ravine cut 6% of its staff. And then in March, it sold $1.3 billion of convertible notes. Its vehicle deliveries hit 15,564 in the third quarter and that was up 23% from the second quarter and above the 14,000 vehicles that analysts expected.