Rivian says it ‘on track to deliver’ 25,000 vehicles this year, stock jumps

Rivian on Monday said it believes it is still on pace to produce 25,000 vehicles this year, in keeping with a prior target, despite earlier production setbacks for the electric-vehicle maker. Shares jumped 10% after hours. Management said the company produced 7,363 vehicles in the third quarter. The electric-vehicle maker said those vehicles were produced at its plant in Normal, Ill., and that it delivered 6,584 vehicles during the quarter. The totals, management said, remained in line with current expectations. Rivian stock is down 69% year-to-date.

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