Everything appeared to be on track, according to a report on Rivian’s performance so far in 2024, which also confirmed a slowdown coming at their plant in Illinois.
, Rivian now welcomes more good news to kick its financial momentum up for the year. With EV sales slowing, can one of the newest all-electric manufacturers keep up the pace? It seems so.With 13,588 vehicles delivered thus far, Q1 2024 is up 71 percent over last year and “in line” with Rivian 's previous forecast that it will produce 57,000 vehicles annually,.
Those numbers do account for the 3,818 total registrations announced, which is an increase of 46 percent over the same registration data from 2023. For all of 2023, Rivian produced 57,232 vehicles and delivered 50,122 to customers by year-end. So why doesn't it expect that momentum to result in growth, especially if Q1 is such an improvement over last year? Well, there's not-so-good news that accounts for that, but it does seem like part of Rivian's plan.
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