Despite the shortage, the company reaffirmed its annual delivery outlook of low single-digit growth as compared with 2023, which it expects to be in a range of 50,500 to 52,000 vehicles.<\/p>\n

Rivian disclosed the part shortage as part of reporting its vehicle production and delivery for the third quarter.<\/p>\n

The company produced 13,157 vehicles at its manufacturing facility in Normal, Illinois, during the period ended Sept. 30 and delivered 10,018 vehicles in that time. Analyst estimates compiled by FactSet expected deliveries of 13,000 vehicles during the third quarter.<\/p>\n

Shares of Rivian are down by more than 50% in 2024, as EV demand has been slower than expected and the company has burned through a significant amount of cash<\/a>.<\/p>\n<\/div>\n<\/div>\n

Source: www.cnbc.com<\/p>\n","protected":false},"excerpt":{"rendered":"

Workers assemble second-generation R1 vehicles at electric auto maker Rivian’s manufacturing facility in Normal, Illinois, U.S. June 21, 2024.\u00a0 Joel Angel Juarez | Reuters Shares of Rivian Automotive dropped about 4% in early trading Friday after the electric vehicle startup delivered fewer vehicles in the third quarter than analysts had expected and lowered its annual…<\/p>\n","protected":false},"author":1,"featured_media":92258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"WB4WB4WP_MODE":"","WB4WP_PAGE_SCRIPTS":"","WB4WP_PAGE_STYLES":"","WB4WP_PAGE_FONTS":"","WB4WP_PAGE_HEADER":"","WB4WP_PAGE_FOOTER":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-92257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\n