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With 14,183 vehicles shipped in the fourth quarter of 2024, Rivian Automotive Inc. (RIVN, Financials) exceeds analysts' average expectation of 13,000. Reflecting continuous operational enhancements and resolution of earlier supply chain problems, the company reported a quarter of 12,727 vehicle production.
Producing 49,476 automobiles and delivering 51,579, for the full year, Rivian surpassed their target of 50,500 to 52,000 deliveries. The company confirmed that component shortageswhich previously hindered manufacturing for its R1 and RCV platformshave been entirely corrected.
Following the release, Rivian's shares surged over 20% and peaked six months later as investors responded favorably to the strong operational updates and delivery numbers.
Looking forward, Rivian plans to build its first-half of 2026 next-generation R2 platform at Normal, Illinois. Within its Commercial Vehicle segment, the company is also looking at opportunities like fleet collaborations aimed to raise its profile in the industry.
Strategically, Rivian has also made headlines for its activities; for example, the $6.6 billion loan from the U.S. Department of Energy to support the construction of a Georgia plant. Moreover, Volkswagen Group expressed plans to spend up to $5 billion in Rivian, therefore demonstrating enormous faith from major industry players.
The company is slated to release its fourth-quarter financial reports on Feb. 20, therefore offering further details on its future prediction and financial state.
This article first appeared on GuruFocus.