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Rivian finished last twelvemonth having return 51,579 electric SUVs , trucks , and vans , more than triple the number it ship to customers in 2023 .
The companyannouncedFriday that it also built 49,476 eV in 2024 . That ’s about 8,000 fewer than it expected to make up as recently as July . Rivian was forced to lower its expectation , though , when it ran intoa component shortagethat cart down output . That shortage is resolved , according to the press loss .
Rivian wo n’t discharge its financial final result for the year until February 20 , but the delivery and production figures help envelop what was an up - and - down year for the growing EV company .
The company begin 2024 bycutting 10 % of its workforcein February , as it and others were lock in a pricing war set off by Tesla .
One calendar month later , Rivianrevealedthe R2 SUV , its upcoming midsize SUV that is supposed to sell in much higher numbers than the current R1S. The R2 is slated to go around $ 45,000 and will be built at the company ’s mill in Normal , Illinois .
The R2 annunciation event came with its own mixed bag of news program . Rivian rolled out a genuine surprisal that wasa Brobdingnagian hit : the R3 hatchback , which is reckon to introduce production after the R2 . But the company also announced it was delaying its new factory in Georgia , and said it would expand the Normal factory in the lag .
In May , Rivian started roll outrevamped versionsof the R1S and the R1 T pickup truck . The company simplified the inside working of the vehicles in a tender to stanch itsperpetual and supersized fiscal exit .
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The company induce another rise in June when it announce a joint venture with Volkswagen Group . The German giant star pledged to invest $ 5 billion into the collaboration , while Rivian agreed to provide software program and electrical architecture know - how that will help oneself develop Volkswagen ’s portfolio . ( The deal officially closed in November andgrew to $ 5.8 billion . )
Rivian finished the year bysecuring a $ 6.6 billion loan commitmentfrom the Biden administration to help build the Georgia mill — although that loan is already in the crosshairs of some of the incoming Trump administration ’s top advisers .
This year could be just as chaotic for Rivian . Not only could the $ 6.6 billion loanword become a political minefield , but Rivian — and other EV makers — are staring down the existent opening that the Trump disposal will seek to obtain a fashion to do away with the $ 7,500 federal taxation credit for electrical vehicles . That could put even more pressure on Rivian as it fights to get the R2 into production in the first half of 2026 .
