In the morning of May 12 Beijing time, it is reported that rivian, an American pure tram manufacturer, released its first quarter earnings on Wednesday local time The company said it would continue to maintain the original production target of pure trams in 2022, that is, 25000 trams would be produced in the whole year. The company also revealed that consumer orders increased, and the actual loss in the first quarter was lower than expected by Wall Street analysts.
The following are the important data of rivian's first quarter financial report:
——The loss per share was $1.43, lower than the $1.44 expected by Wall Street analysts.
——Revenue reached $95 million, less than analysts' expectations of $130 million.
——A net loss of $1.59 billion.
——Total scheduled orders for pure trams: more than 90000.
The company said that for its two series of electric pickup trucks and pure electric SUVs, the total reservation reached 90000, exceeding the 83000 announced in March. Among them, in March, the company announced price increase measures, and there were twelve thousand scheduled orders after the price increase. The average purchase price of these new orders was $93000.
For rivian, it will take some time to complete the production of these orders. The company said it lost about a quarter of pure tram production after March due to tight supply of key parts, especially chips.
The models produced by rivian include r1t electric pickup truck and R1s pure electric SUV, as well as the electric truck "EDV 700" launched for the major shareholder Amazon. The total output of these three models has reached about 5000 since they were put into operation.
RJ scaringe, the company's chief executive, revealed that the company is also developing the second electric truck "EDV 500" for Amazon, which is currently undergoing final testing.
Rivian has an automobile manufacturing plant in Illinois. It is reported that if the production line achieves the full capacity target, the plant can produce 150000 pure trams a year.
The production target of 25000 vehicles this year actually takes into account the supply chain problems in the automotive industry and the problems in the company's internal production. At the end of last year, rivian was listed on US stocks. In the roadshow before the listing, they put forward the annual production target of 50000 vehicles, which has been halved at present.
It is also reported that rivian's automobile manufacturing department will soon usher in a new leader. His name is frank Klein, who is currently in charge of foreign OEM business at Magna International, a global auto parts giant. From June 1, Corey will be chief operating officer of rivian. His important task is to solve the problem of automobile supply chain and continue to expand the company's pure tram production capacity.
According to the financial report, as of the end of March, the company still had $17 billion in cash on its books. The company said this was enough for the company to continue until the launch of the next model. The next model, named R2, is a low-cost pure tram, which is planned to go offline in a new factory in Georgia in 2025.
Rivian's share price fell 10% in intraday trading on Wednesday local time, but in after hours trading after the release of the financial report, the share price rose sharply by more than 9%.
It is reported that last Sunday was the end date of rivian's early investors and insiders' holding of "post listing lock-in period", which led to the stock sell-off. The company's share price has fallen 28% since last Sunday.
On Monday local time, Ford Motor Company, as a shareholder, sold 100 million rivian shares, with an average selling price of $26.8. In contrast, when rivian went public at the end of last year, its first day trading price was as high as $106.