After a supply shortage began in Q3, Rivian cut production plans for the year. It now expects to build between 47,000 and 49,000 vehicles this year, down from its previous 57,000 target. With another 13,157 vehicles built in Q3, Rivian’s production total reached 36,749 through September.

Rivian missed quarterly delivery expectations and cut its 2024 production guidance as it faces a parts shortage.

Shares of Rivian Automotive fell more than 6% in midday trading Friday after the electric vehicle startup lowered its annual production forecast for 2024. Rivian said the lower production target — down from 57,

A federal loan application reveals Rivian is aiming for 2027 to begin partial operations at a new Georgia production plant.

EV production forecast due to parts shortage and lower demand. Company now expects to produce 47,000–49,000 units, down from 57,000 target.

Rivian Automotive Inc. shares tumbled after the automaker cut its annual production target, citing a worsening supply crunch at its lone US assembly plant.

During the July-September period, Rivian delivered 10,018 vehicles. This was a significant fall from the 13,790 it delivered in Q2 and the 13,588 deliveries in Q1. Production rose

Wall St. Insights Once again, Rivian Automotive Inc. (NASDAQ RIVN) has disappointed investors and caused its stock to tumble. This time it cut its production forecast for this year. Also: Dividend legends to hold forever.