Rivian shares production and delivery numbers for 2024, stock price surges

Rivian's stock is surging, currently trading 24% higher than yesterday, and the reason is the company's press release put out today regarding the deliveries and production stats for 2024.

Unlike Tesla, which failed to deliver on its own guidance and Wall Street expectations, Rivian actually did meet its full-year guidance, having produced 49,476 vehicles in 2024 and delivered 51,579. For comparison's sake, note that Rivian delivered 50,122 vehicles in 2023, so while it's done better in 2024, the growth isn't big.

For the fourth quarter (October to December), Rivian made 12,727 EVs and delivered 14,183, over 40% more than the previous quarter. Thankfully, a recent shortage of a shared component on the R1 and RCV platforms is "no longer a constraint on Rivian's production", the company says. That most likely impacted the Q3 delivery number.

Rivian will release its fourth quarter 2024 financial results on February 20 after market close.