Rivian now says it will make fewer electric vehicles this year than it did in 2023

Rivian said it would make fewer electric vehicles this year than it did in 2023, resulting from a parts shortage. The news came as the company reported third quarter production and delivery numbers that came in below analyst expectations.

Rivian says it expects to produce between 47,000 and 49,000 vehicles this year, down from the 57,000 vehicles it originally forecast. That number was flat from the previous year, when the company produced 57,232 vehicles and delivered 50,122.

Rivian said the disruption is due to “a shortage of a shared component on the R1 and RCV platforms,” referencing the company’s R1T and R1S vehicles, as well as its commercial van platform. “This supply shortage impact began in Q3 of this year, has become more…

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