Rivian’s (RIVN) Q1 production and deliveries totaled 14,600 and 8,600, respectively, slightly ahead of the 14,000 and 8,000 guidance as it moves to build up inventory in the early part of the year ahead of its planned second half shutdown at Normal for the R2 expansion, Truist tells investors in a research note. The firm, which made no change to its Hold rating or $14 price target, says that while the numbers for Q1 were largely in-line with prior commentary and Street estimates, the shares and sector could see headwinds today from Tesla’s (TSLA) missed Q1 deliveries.
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