Written by Cláudio Afonso | LinkedIn | X
Electric vehicle maker Rivian said on Friday it delivered 14,183 electric vehicles in the fourth quarter of 2024, a sequential increase of 41.6% from the 10,018 units recorded between July and September.
The delivery figures from the last quarter of 2024 represent an increase of 2% percent when compared to the same quarter of 2023. The annual deliveries grew by about 3% to 51,579 units.
Rivian produced 12,727 vehicles in the last quarter of the year, down from 13,157 in the third quarter. In 2024, the EV maker produced a total of 49,476 units, about 500 units above the high end of the recently-lowered guidance.
In October, the company noted it was grappling with a production disruption caused by a shortage of a shared component affecting both its R1 and RCV platforms.
On Friday, the company said that “the previously discussed shortage of a shared component on the R1 and RCV platforms is no longer a constraint on Rivian’s production.”
Rivian miscalculated its supply and demand requirements with Essex Furukawa, its sole supplier of copper wires used in the EV motors, according to Bloomberg. The report mentions that the supplier redirected its resources to other customers after Rivian’s demand signals fell short.
Following the constraint, the company lowered its 2024 production guidance, reducing its output target from 57,000 vehicles to a range of 47,000 to 49,000 units.
As of the time of writing, Rivian shares are trading 5% higher at $13.91.
Written by Cláudio Afonso | LinkedIn | X
