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 Automobile production and deliveries in 2024 are in line with the company’s previously announced expectations.
electric car manufacturer Friday said Last year, the company produced 49,476 vehicles, including 12,727 trucks and vans in the fourth quarter, and delivered 51,579 vehicles, including 14,183 models in the last three months of the year.
Rivian in October lowered its 2024 production target from 57,000 units to 47,000 to 49,000 units. 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 company’s shares fell 43% last year as the company burned through cash and missed production targets.
Rivian is scheduled to report fourth-quarter financial results on February 20.
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