Rivian Automotive Inc RIVN Shares traded higher on Tuesday after the company provided an update on vehicle production and announced it is on track to meet its previously provided production guidance.

Rivian said it produced 7,363 vehicles and shipped 6,584 vehicles in the third quarter, the highest quarterly total ever. Rivian makes the R1T pickup and R1S SUV, as well as vans Amazon.com Inc AMZN at its Illinois factory. The company did not separate the production or delivery numbers by model.

Rivian also announced that it remains on track to meet its annual production forecast of 25,000 vehicles. The company originally forecast 50,000 total vehicles in 2022, but it cut his prospects in March, citing ongoing global supply chain problems. As of this week’s update, Rivian has produced a total of 14,317 vehicles in 2022.

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RIVN Price Promotion: Rivian has a 52-week high of $106.80 and a 52-week low of $19.25.

The stock was up 7.75% Tuesday morning at $34.36 Gasoline Pro.

Photo: courtesy of Rivian.

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