Rivian Meets 2024 Production Targets

[Budman]

https://www.cnbc.com/2025/01/03/rivian-meets-2024-vehicle-production-target.html


Rivian Automotive’s 2024 vehicle production and deliveries were in line with the company’s previously announced expectations.

The electric vehicle maker on Friday said it produced 49,476 vehicles last year, including 12,727 trucks and vans during the fourth quarter, and delivered 51,579 vehicles, including 14,183 models during the last three months of the year.




Rivian in October lowered its 2024 production target to a range of 47,000 to 49,000 vehicles – down from 57,000 units. The company had expected deliveries of between 50,500 and 52,000 vehicles.

The company in October said the adjusted target was because of a “production disruption due to a shortage of a shared component” for its current vehicles — the R1T pickup, R1S SUV and a commercial delivery van.

The company on Friday said the previously discussed shortage “is no longer a constraint on Rivian’s production.”

Shares of Rivian were up roughly 4% during premarket trading Friday. The stock declined 43% last year as the company burned through cash and missed its production targets.

Rivian is scheduled to announce its fourth-quarter financial results on Feb. 20.

Sponsored

 

[Freddie]

Happy to see the beat! Will have to wait and watch how the growth story unfolds under don-swamy-musk-onomics while R2 is miles away!

 

[evdriver2016]

R2 is going to crush it.

 

[Honey]

I never lost faith. 🥲

 

[captainjp]

Haters are going to find a reason to find a negative twist.

 

[Hereforthesnacks]

If anyone for some reason payed attention to the $8-10 buy point, you are a happy camper!

 

[Harvey Mushman]

If anyone for some reason payed attention to the $8-10 buy point, you are a happy camper!

I did but unfortunately I didn't buy enough. New buy point may be in the 11-12 dollar range now.

 

[Eric9610]

I do like that Rivian is honest with the projection's vs some companies...

 

[moosetags]

This good news for Rivian and all other manufacturing startups. Being a very early Rivian adopter, this also makes me feel good.

Brian

 

[echerod]

https://electrek.co/2025/01/03/rivian-rivn-stock-surges-q4-2024-deliveries-top-expectations/

Nice pop in the stock price so far

 

[MannyMan]

I'm so happy and glad to see Rivian doing better on the business side of things. I definitely see another Rivian vehicle in my future. Can't wait for R2! Go Rivian!

 

[Sgt Beavis]

Well that explains the big pop in Rivian stock. Up 22% so far.

 

[DuoRivian]

I have not heard any 2025 production targets. Now the parts shortage is fixed they should be able to get to 60k+ for 2025.

 

[mkg3]

Rivian is scheduled to announce its fourth-quarter financial results on Feb. 20.

Rivian needs to get better about the earnings call date. They announced production and deliveries today and 7 weeks later for the call/discussion.

Most companies, including automakers have about 4 weeks (announced at the beginning of the month and the earnings call within the following 3~4 weeks).

Gives too much time for speculations, momentum change and void, since the quite period starts couple of weeks prior to the earnings announcement.

 

[ThirteenElectrics]

A 20% pop on simply meeting expectations shows a deep pessimism in the markets regarding Rivian—like they didn’t believe the supply chain excuses. That makes sense, as the supply chain was a scapegoat for weak demand. I see a bunch of Rivian ads on YouTube and investors do as well. Hopefully this helps reestablish executive credibility with Wall Street.

Sponsored