Rivian Automotive Inc. Exceeds Q4 Delivery Expectations

Rivian Automotive Inc. has announced a significant achievement in its fourth-quarter deliveries for 2024, with 14,183 vehicles delivered, surpassing analysts' expectations. The production numbers were also impressive, with 12,727 units manufactured during the same period.

Full Year 2024 Performance

Throughout 2024, Rivian successfully manufactured 49,476 vehicles, slightly exceeding its projections of between 47,000 and 49,000. The company delivered 51,579 units, aligning with its forecast for the year. Rivian has also resolved the previous component shortages for its R1 and RCV vehicles, stating that it is "no longer a constraint" on their production.

Looking Ahead

Rivian is set to release its earnings report for Q4 2024 on February 20, after the market closes. Following the announcement, the company's stock experienced a 5.58% surge in the premarket, reaching $13.25.