Rivian Automotive (NASDAQ:RIVN) is an electric vehicle (EV) manufacturer.

The corporation posted strong second-quarter production figures.

Rivian said that in the fiscal year ended June 30, it produced 13,992 automobiles and delivered 12,640 of them.

It's a positive sign for Rivian because analysts expected deliveries to surpass 11,000 merely.

The announcement of price cuts by EV maker Tesla (NASDAQ:TSLA) has resulted in a surge of optimism for Rivian's shares.

 pricing targets ranging from $18 to $30.

 the company, but depending on how Rivian performs in its next earnings reports.

 Rivian's stock remains considerably behind its 52-week high of $40.86.