Rivian Automotive reported that its 2024 vehicle production and deliveries met prior expectations, with a total of 49,476 vehicles produced and 51,579 delivered last year. This included 12,727 trucks and vans produced in Q4. However, the company revised its 2024 production target to 47,000-49,000 vehicles from 57,000 due to a component shortage affecting its R1T and R1S models. Despite the shortage being resolved, Rivian’s shares fell 43% last year amid cash burn and missed targets. The company will release its fourth-quarter financials on February 20.
