Rivian Automotive has released its production and delivery figures for the third quarter of 2024, which ended on September 30. The company produced 13,157 vehicles at its Normal, Illinois plant and delivered 10,018 vehicles during the same period.
Rivian is facing production challenges due to a component shortage affecting both the R1 and RCV platforms. This supply issue, which emerged in Q3 and worsened recently, has led the company to revise its 2024 production target to between 47,000 and 49,000 vehicles. However, Rivian maintains its delivery guidance, projecting modest growth with expectations of 50,500 to 52,000 vehicles for the year.
Rivian also announced it will release its Q3 2024 financial results on November 7, 2024, after market close. An audio webcast to discuss the results and the company’s outlook will follow at 5:00 p.m. ET. The live event will be accessible at Rivian’s webcast link, with a replay available for four weeks on the company’s investor relations page.
Forward-Looking Statements:
This release includes forward-looking statements, such as Rivian’s revised production outlook, expected delivery growth, and the impact of supply shortages. These projections involve risks and uncertainties that may cause actual results to differ materially from those anticipated. For more detailed information, please refer to Rivian’s filings with the Securities and Exchange Commission (SEC). Investors are advised not to place undue reliance on these statements, as Rivian may not provide future updates.
