Rivian electric vehicles (EV) are parked at the Rivian Venice Hub on November 13, 2024 in Venice, California.
Mario Tama | Getty Images
Rivian Cars 2024 vehicle production and deliveries were in line with the company's previously announced expectations.
Electric car maker He said on Friday It produced 49,476 vehicles last year, including 12,727 trucks and minivans during the fourth quarter, and delivered 51,579 vehicles, including 14,183 models during the last three months of the year.
Rivian in October Reduced production target to 2024 to a range of 47,000 to 49,000 vehicles – down from 57,000 units. The company was expecting to deliver between 50,500 and 52,000 cars.
The company said in October that the revised target was due to “production disruption due to a common component shortage” for its existing vehicles — the R1T pickup truck, R1S SUV, and commercial delivery van.
The previously discussed shortage “no longer poses a barrier to Rivian production,” the company said Friday.
Rivian shares rose more than 10% during early Friday morning trading. The stock fell 43% last year The company burned through cash It failed to achieve its production goals.
Rivian is scheduled to announce its fourth-quarter financial results on February 20.
