Rivian Q2 2023 Shareholder Letter - Production & Guidance Update

Rivian's Q2 2023 shareholder letter reports ~50% quarter-over-quarter production growth and ~60% delivery growth, with gross profit per vehicle improving by ~$35,000. The company raised 2023 production guidance to 52,000 units and improved adjusted EBITDA guidance to $(4,200) million while reducing capex guidance to $1,700 million. Over 300 million miles have been driven by Rivian vehicles as the company continues ramping production and introducing new technologies including its in-house Enduro motor.