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Rivian ended last year delivering 51,579 electric SUVs, trucks and vans, more than triple the number it will ship to customers in 2023.
Company announced On Friday, it also produced 49,476 EVs in 2024. That’s about 8,000 less than it was expected to produce in July. Rivian had to lower his expectations when confronted component failure reduced production. According to the information provided to the press, this deficiency has been eliminated.
Rivian won’t release financial results for the year until Feb. 20, but the delivery and production numbers help cap an up-and-down year for the growing EV company.
The company started in 2024 lays off 10% of the workforce In February, he and others were locked in a Tesla-initiated price war.
A month later, Rivian revealed The R2 SUV is a mid-size SUV that is expected to sell in higher volumes than its current R1S. The R2 is slated to start at around $45,000 and will be manufactured at the company’s factory in Normal, Illinois.
The R2 announcement event came with its own mixed bag of news. Rivian made a real surprise a big hit: The R3 hatchback, which was supposed to go into production after the R2. But the company announced it was also delaying its new factory in Georgia and said it would expand its Normal factory in the meantime.
Rivian went live in May updated versions R1S and R1T pickup truck. The company simplified the interior of the cars to maintain its strength permanent and super-sized financial losses.
The company got another boost after announcing a joint venture with Volkswagen Group in June. The German giant has committed to investing $5 billion in the partnership, while Rivian has agreed to provide software and electrical architecture know-how that will help modernize Volkswagen’s portfolio. (The deal officially closed in November and grew up up to $5.8 billion.)
Rivian finished the year providing A $6.6 billion loan commitment from the Biden administration to help build the Georgia factory — though that loan is already the focus of some top advisers to the incoming Trump administration.
This year could also be chaotic for Rivian. Not only could the $6.6 billion credit become a political minefield, but Rivian and other EV makers are considering the very real possibility that the Trump administration will try to find a way to get rid of the $7,500 federal tax credit for electric vehicles. This could put more pressure on Rivian, which is struggling to get the R2 into production in the first half of 2026.