Toronto, Ontario — In this weekly Tuesday Ticker, Tesla sets a schedule for its 2023 Investor Day, while Rivian recovers from narrowly missing its 2022 production marks.
Let’s talk Tesla
Tesla has announced a date for its annual Investor Day. This year’s event will be held March 1 and will provide investors with Tesla’s “most advanced product line.”
Analysts have speculated the electric automaker will announce a new Gigafactory, as CEO Elon Musk teased during an August 2022 shareholder meeting. At that time, Musk teased Canada as a potential site for the new factory.
“We are looking at sites, but we’re considering some site options more broadly in North America, including Canada and Mexico, and the U.S. as well,” he said.
Recent reports indicate that Tesla has acquired a piece of land in the Mexican border state of Nuevo Leon, with plans to build a new factory beginning this month. Reports do not indicate the anticipated product the plant will produce.
Analysts had anticipated an announcement on the alleged Mexico Gigafactory in mid-December. As of Jan. 9, no formal announcement has been made.
Reports from Rivian
Fourth-quarter reports from Rivian indicate that the electric automaker failed to hit its 2022 production guidance of 25,000 units.
The company said 10,020 vehicles rolled off its assembly line in Q4, ultimately delivering 8,054 vehicles.
Overall, Rivian produced 24,337 vehicles in 2022.
While the OEM missed its output goal, originally 50,000 before Rivian halved its predictions in spring 2022, the company said a further 714 vehicles were off the production line but still waiting on certain parts or software validations. These vehicles were not included in the official figure, said Rivian CEO RJ Scaringe.
Rivian finished 2022 with shares down more than 80 percent year-to-date.
