Rivian reduces its production forecast due to a shortage of components.

Rivian Automotive has reduced its 2024 production forecast by 10,000 vehicles, now expecting to manufacture between 47,000 and 49,000 units due to a parts shortage affecting its R1 and RCV platforms. This shortage has worsened recently and follows a factory retooling that aimed to increase efficiency. Despite the production cut, Rivian maintains an annual delivery goal of low single-digit growth compared to 2023, anticipating deliveries between 50,500 and 52,000 vehicles. In Q3, the company produced 13,157 vehicles and delivered 10,018, significantly lower than the previous year.