Rivian completed final yr having delivered 51,579 electrical SUVs, vehicles, and vans, greater than triple the quantity it shipped to prospects in 2023.
The corporate announced Friday that it additionally constructed 49,476 EVs in 2024. That’s about 8,000 fewer than it anticipated to fabricate as not too long ago as July. Rivian was pressured to decrease its expectations, although, when it bumped into a component shortage that dragged down manufacturing. That scarcity is resolved, in accordance with the press launch.
Rivian received’t launch its monetary outcomes for the yr till February 20, however the supply and manufacturing figures assist wrap what was an up-and-down yr for the rising EV firm.
The corporate started 2024 by cutting 10% of its workforce in February, because it and others have been locked in a pricing battle set off by Tesla.
One month later, Rivian revealed the R2 SUV, its upcoming mid-size SUV that’s purported to promote in a lot greater volumes than the present R1S. The R2 is slated to begin round $45,000 and will likely be constructed on the firm’s manufacturing facility in Regular, Illinois.
The R2 announcement occasion got here with its personal combined bag of reports. Rivian rolled out a real shock that was a huge hit: The R3 hatchback, which is meant to enter manufacturing after the R2. However the firm additionally introduced it was delaying its new manufacturing facility in Georgia, and mentioned it might develop the Regular manufacturing facility within the meantime.
In Might, Rivian began rolling out revamped versions of the R1S and the R1T pickup truck. The corporate simplified the interior workings of the autos in a bid to staunch its perpetual and super-sized financial losses.
The corporate acquired one other increase in June when it introduced a three way partnership with Volkswagen Group. The German large pledged to take a position $5 billion into the collaboration, whereas Rivian agreed to offer software program and electrical structure know-how that may assist modernize Volkswagen’s portfolio. (The deal formally closed in November and grew to $5.8 billion.)
Rivian completed the yr by securing a $6.6 billion mortgage dedication from the Biden administration to assist construct the Georgia manufacturing facility — though that mortgage is already within the crosshairs of a number of the incoming Trump administration’s high advisors.
This yr could possibly be simply as chaotic for Rivian. Not solely may the $6.6 billion mortgage turn into a political minefield, however Rivian — and different EV makers — are staring down the actual chance that the Trump administration will attempt to discover a strategy to cast off the $7,500 federal tax credit score for electrical autos. That might put much more strain on Rivian because it fights to get the R2 into manufacturing within the first half of 2026.
