A Rivian electric vehicle (EV) is parked at the Rivian Venice Center on November 13, 2024 in Venice, California.
Mario Tama | Getty Images
Rivian Automotive Company Vehicle production and deliveries in 2024 are in line with the company’s previously announced expectations.
The electric carmaker said on Friday it produced 49,476 vehicles, including 12,727 trucks and vans, and delivered 51,579 vehicles in the fourth quarter of last year, including 14,183 models in the final three months of this year.
Rivian in October Lowers 2024 production target The number of vehicles dropped from 57,000 to 47,000 to 49,000. The company expects deliveries of 50,500 to 52,000 vehicles.
The company said in October that the revised target was due to “production disruptions due to shared parts shortages” on its existing vehicles (R1T pickup truck, R1S SUV and commercial van).
The company said on Friday that the previously discussed shortage “is no longer a constraint on Rivian production.”
Rivian’s shares were up about 4% in premarket trading Friday. The stock fell 43% last year Company burns cash and failed to meet its production targets.
Rivian is scheduled to report fourth-quarter financial results on February 20.
