Rivian electrical automobiles (EV) are parked on the Rivian Venice Hub on November 13, 2024 in Venice, California.
Mario Tama | Getty Images
Rivian Automotive’s 2024 car manufacturing and deliveries had been according to the corporate’s beforehand introduced expectations.
The electrical car maker on Friday said it produced 49,476 automobiles final 12 months, together with 12,727 vehicles and vans throughout the fourth quarter, and delivered 51,579 automobiles, together with 14,183 fashions over the past three months of the 12 months.
Rivian in October lowered its 2024 production target to a spread of 47,000 to 49,000 automobiles – down from 57,000 items. The firm had anticipated deliveries of between 50,500 and 52,000 automobiles.
The firm in October stated the adjusted goal was due to a “manufacturing disruption on account of a scarcity of a shared element” for its present automobiles — the R1T pickup, R1S SUV and a business supply van.
The firm on Friday stated the beforehand mentioned scarcity “is not a constraint on Rivian’s manufacturing.”
Shares of Rivian had been up roughly 7% throughout buying and selling early Friday morning. The inventory declined 43% final 12 months because the company burned through cash and missed its manufacturing targets.
Rivian is scheduled to announce its fourth-quarter monetary outcomes on Feb. 20.
