Electric vehicle startup Rivian Automotive today announced production totals for the quarter and full-year ending December 31, 2023.
The company produced 17,541 vehicles at its manufacturing facility in Normal, Illinois, up 7.5% from the prior quarter, and delivered 13,972 vehicles during the same period, down 10.2% from the third quarter of 2023.
On a full-year 2023 basis, the company produced 57,232 vehicles and delivered 50,122. This exceeded management’s most recent full-year 2023 production guidance of 54,000 vehicles.
The company announced a leasing option for its R1T electric pickup truck in November, which would also receive the $7,500 federal tax credit for electric vehicle purchases, in select U.S. states.
Rivian’s results come on the same day EV leader Tesla said it delivered 484,507 vehicles in Q4 and over 1.8 million in 2023.
Rivian also announced that on February 21st, after market close, it will release its fourth quarter 2023 financial results.
