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The company just released its financial results for the fourth quarter of 2021, reporting $554 million income and a significant loss of $2.46 billion. These results are relatively respectable, but they fall short of the company's targets established at the start of 2021 when its intention as a startup was to sell and deliver more than 1,200 cars to clients worldwide, but only 920 cars were sold. Total operating expenses for the fourth quarter of 2021 swelled to $2.07 billion, up from $353 million compared to 2020, while operating expenses exceeded $3.755 billion for the whole of 2021, which is also a significant increase of the $1.02 billion over 2020.
Rivian has announced plans for 2022 to produce 25,000 electric vehicles including the R1T and R1S models, along with the upcoming Amazon electric truck.
The firm stated in a statement that the supply chain shortage would not affect its production since it would design and produce more than 50,000 vehicles using its own platforms.
It also anticipates its costs to climb to 2.6 billion as a result of its plans to develop through its own facility in Illinois, which will have the ability to produce 200,000 vehicles each year.
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