Rivian shares surge as second-quarter EV deliveries top estimates

Shares of Rivian Automotive jumped much than 16% successful aboriginal trading Monday aft the electrical conveyance shaper bushed Wall Street expectations for quarterly deliveries.

Rivian on Monday reported 12,640 conveyance deliveries during the 2nd quarter, up 59% from the erstwhile 4th and topping expert expectations of 11,000 vehicles, according to expert estimates compiled by FactSet.

The automaker, which makes electrical R1T pickups and R1S SUVs for consumers, besides reiterated its yearly accumulation people of 50,000 units. Rivian produced astir 23,400 vehicles done the 2nd quarter.

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