By DCB Editorial, January 3, 2025
Rivian exceeded analysts’ expectations for Q4 deliveries, signalling recovery from a component shortage that had constrained production. The company delivered 14,183 vehicles, a 42% increase from the previous quarter, and produced 12,727 vehicles, both surpassing estimates.
Annual production for 2024 totaled 49,476 units, down 13% year-over-year but above its revised target. Shares rose 14% after Rivian announced cost-cutting measures, supplier renegotiations, and a $5.8 billion investment from Volkswagen, positioning the company for its first profit.
However, the EV market in Western countries faces challenges from slowing demand, higher borrowing costs, and competition from cheaper hybrids and legacy automakers, with Tesla also reporting a decline in yearly deliveries.
