Tesla is in far better shape than Rivian. According to InsideEVs, Rivian’s vehicle deliveries grew by 73% year on year in the fourth quarter. The total production was 17,541, and 13,972 of those were delivered. The main driving force behind these fourth-quarter figures was undoubtedly the streamlining of its output.
In total, Rivian produced 57,232 vehicles in 2023, which is a 135% increase over 2022. The total deliveries were 50,122, which is a growth of 147%, but this seems to be less than adequate for investors; before the figures were announced, the stock price was $23.44 (at the time of writing, it was sitting at $21.10).
Rivian has seemingly worked through its teething problems, but it’s clear that increased production and deliveries are required for the company to see growth.
With that in mind, Rivian plans to introduce the compact R2 early in 2024, which should satisfy most concerns.