Auto experts share takeaways on Q3 woes at Rivian, Lucid, Canoo
each made progress toward their production goals for the year and steadily increased customer deliveries. But both saw the gap between production and deliveries widen in the quarter. Canoo has yet to make any production vehicles.
After it closed the gap in the second quarter, Rivian's pace of deliveries again fell behind production by 779 vehicles. Claire McDonough, its chief financial officer, attributed this backlog to setbacks related to ramping up a second shift at the company's Normal, Illinois factory and aligning a new production schedule with changes to delivery logistics and a slower holiday period. She expects the gap to close again early next year.
Experts saw Wednesday's results as a sign that Rivian continues to make progress toward meeting its target of 25,000 vehicles this year.
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