Today, Rivian announced its production and delivery totals for Q3 2024, ending September 30. The company produced 13,157 vehicles at its Normal, Illinois plant and delivered 10,018 vehicles during the quarter.
Rivian is facing a production disruption due to a shortage of a shared component on its R1 and RCV platforms. The supply shortage, which began earlier in Q3, has worsened recently and continues to impact production. As a result, Rivian has revised its annual production guidance to between 47,000 and 49,000 vehicles. Despite the disruption, Rivian is maintaining its annual delivery outlook, expecting low single-digit growth over 2023 with a range of 50,500 to 52,000 vehicles.
Additionally, the company announced it will release its Q3 2024 financial results on November 7, 2024, after market close. An audio webcast to discuss the results and outlook will take place at 5:00 p.m. ET the same day. The webcast will be available live at https://edge.media-server.com/mmc/p/2m7m5wyb, with a replay accessible for four weeks at www.rivian.com/investors.
Forward-Looking Statements:
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements include expectations regarding Rivian’s production and delivery outlook, supply shortage impacts, and future growth. Forward-looking statements are based on current expectations and projections, which involve risks and uncertainties that could cause actual results to differ materially. Factors influencing these outcomes include those detailed in Rivian’s quarterly filings with the SEC. Rivian assumes no obligation to update these statements, even if future events change the company’s outlook.
