Rivian Automotive, Inc. (NASDAQ: RIVN) has released its production and delivery figures for the fourth quarter and full year of 2024. According to the press release, the company produced 12,727 vehicles at its manufacturing facility in Normal, Illinois and delivered 14,183 vehicles during the same period. This represents an increase from the third quarter production and delivery figures, which stood at 8,876 and 10,757 vehicles, respectively.
On a full-year basis, Rivian produced 49,476 vehicles and delivered 51,579, which is a notable increase from the previous year's production and delivery figures. In terms of guidance, the company's figures were within the management’s full-year 2024 guidance of 47,000 to 49,000 vehicles produced and 50,500 to 52,000 vehicles delivered, demonstrating strong performance in meeting its targets.
Furthermore, the press release highlighted that the previously discussed shortage of a shared component on the R1 and RCV platforms is no longer a constraint on Rivian’s production, indicating that the company has successfully resolved this issue.
Looking ahead, Rivian announced that it will release its fourth quarter 2024 financial results on February 20th after market close. The company will host an audio webcast at 5:00 p.m. ET the same day to discuss the performance and outlook for the business. This signals a transparent approach to keeping investors and stakeholders informed about the company's financial standing and future prospects.
The market has reacted to these announcements by moving the company's shares 16.5% to a price of $15.44. Check out the company's full 8-K submission here.
