Rivian, a developer of battery-electric vehicles including SUVs, pickup trucks, and delivery vans, reported its Q4 2021 results today. The company started generating revenue this year and for the year ended December 2021, it reported revenue of USD 55 million and a net loss of USD 4.7 billion (USD 22.98 loss per share and 4.6x the loss in 2020). Almost all of its revenue was generated during Q4 with the delivery of 909 vehicles during the quarter. The company reported delivering a total of 920 vehicles during the year.

As of early March, the company had secured a total of roughly 83,000 pre-orders for its pickup truck and SUV in the US and Canada (up from 73,000 reported in December 2021) and produced a total of 2,425 vehicles (1,015 produced during 2021). 

In December 2021, Rivian also announced selecting a site in Atlanta, Georgia for its second manufacturing plant, in addition to the one they operate in Normal, Illinois. It plans to commence construction of the former and ramp up production at the latter this year. However, the company has slashed its initial target of producing a total of 50,000 vehicles to 25,000 this year, citing supply chain constraints.

Earlier this month, the company announced revisions to its pickup trucks and SUV prices, which now range between USD 67,500 and USD 95,000, up from its previous price range USD 67,500–83,000. The revision comes with a couple of product improvements to the propulsion system and battery pack.