a rivian r1t truck body lowered onto a chassis in the assembly line at the rivian electric vehicle plant in normal illinois georgia is giving the company 15 billion in subsidies to bring a new 5 billion ev plant to the southern state electric vehicle startup rivian automotive told investors in march that it will produce 25000 vehicles in 2022 it has three months and a seemingly tall order to get there through the end of september rivian had built just 14317 electric vehicles meaning that it will have to build about 10700 more between now and the end of december to deliver on its promise to investors rivian is confident it can meet its goal the company has reiterated that guidance several times since march most recently on monday when it announced its thirdquarter production total wall street isnt too concerned either as several analysts noted this week rivian just had its best quarter for production yet with 7363 evs built between july and september thats more than it built in the entire first half of 2022 thanks to a second shift of workers added during the quarter and thanks to managements efforts to mitigate the supplychain woes that rivian faced earlier in the year the companys stock is off 65 this year underperforming broader market losses rivian has been ramping up production at its illinois factory at a relatively steady pace since early this year so while supplychain factors could still complicate its efforts its thirdquarter result seems to put its fullyear target in range analysts say in a monday evening note canaccord genuitys george gianarikas pointed out that rivians production rate has gone from an average of about 78 vehicles per week in the fourth quarter of 2021 to about 566 per week in the third quarter of 2022 itll have to ramp up further to an average of about 822 per week between now and the end of the year to make its fullyear goal we estimate this is achievable gianarikas wrote gianarikas rates rivians stock as a buy with a price target of 61 rivian currently trades for about 35 per share morgan stanleys adam jonas in a short note tuesday wrote that while its possible that rivians production will come in slightly below its guidance if it makes anywhere near 25000 vehicles for the year that bodes well for its plan to make about 50000 vehicles in 2023 jonas has an overweight rating on rivian with a price target of 60 the bigger concern according to rbcs joseph spak is rivians 2023 targets in a monday night note spak wrote that 25000 vehicles this year is still feasible but rivians plan to roll out new electric motors and revamped battery packs next year could introduce new production snags spak has an outperform rating on rivians stock with a price target of 62 still there are no guarantees that rivian will meet its goal or get close the company has already cut its 2022 production guidance once in march when it said that ongoing global supply chain issues would limit its fullyear production to 25000 instead of the 50000 investors had been expecting as recently as august ceo rj scaringe said rivian was still working through supply chain constraints and automakers continue to cite shortages of raw materials such as lithium and cobalt that are needed for battery production rivian is expected to report its thirdquarter financial results and to provide additional color on the status of its production ramp in early november