Rivian Automotive today announced production and delivery totals for the quarter ending March 31, 2024.
The company produced 13,980 vehicles at its manufacturing facility in Normal, Illinois and delivered 13,588 vehicles during the same period.
The quarterly production saw a year-over-year increase of approximately 50%, yet fell short of the 17,541 vehicles manufactured in the preceding three months.
Production and delivery results during the first quarter of 2024 were in line with Rivian’s expectations. For the full year 2024, management is reaffirming guidance for annual production of 57,000 total vehicles.
Last month, Rivian unveiled its smaller, less expensive electric R2 SUVs and R3 crossovers.
Rivian plans to start production of R2 in its existing Normal, Illinois manufacturing facility. Beyond significantly reducing the amount of capital needed to bring R2 to market, the company believes this approach considerably reduces risk to the launch and associated ramp; efficiently leverages its existing manufacturing and operations teams; and expands the total capacity for the site to 215,000 units per year.
Rivian’s Georgia plant remains an extremely important part of its strategy to scale production of R2 and R3.
