Rivian Automotive, the electric vehicle startup, met its revised 2024 production goal, manufacturing 49,476 vehicles. This figure includes 12,727 trucks and vans produced in the last quarter of the year. Deliveries for the year reached 51,579 vehicles, with 14,183 units delivered in the final three months. Initially, Rivian had set a higher target of 57,000 vehicles but adjusted it to between 47,000 and 49,000 due to a component shortage. This issue has since been resolved. Despite the production success, Rivian’s stock fell by 43% last year due to cash burn and previous production shortfalls. The company’s shares saw a 4% increase in premarket trading following the announcement. Rivian is set to reveal its fourth-quarter financial results on February 20.
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