July 3 (Reuters) - Rivian Automotive (RIVN.O) beat market estimates for second-quarter deliveries on higher production and stable demand for its electric vehicles, sending the company's shares up more than 14% on Monday.
Rivian, which makes R1T pickup trucks and R1S SUVs, delivered 12,640 vehicles in the second quarter, compared with Visible Alpha estimates of 11,000 vehicles.
The company made 13,992 vehicles at its facility in Normal, Illinois, which was 4,597 more than in the first quarter.
Rivian's production and delivery numbers come just a day after Tesla beat estimates with record deliveries in the second quarter.
Rivian posted a smaller loss in the first quarter in May and its finance chief said last month the company expects demand to remain stable through 2023.
Persons:
Tesla, Rivian, Needham, Chris Pierce, Danni Hewson, AJ Bell, Chavi Mehta, Vinay Dwivedi, Shounak
Organizations:
Rivian, EV, Thomson
Locations:
Normal , Illinois, Bengaluru