Rivian (RIVN) is set to report its Q4 2023 earnings after the market close on Wednesday, February 21, 2024. EV makers, including Rivian, look to show they can gain control of costs as output ramps up.
Still expanding and lowering costs
Rivian has continued to outpace rival EV startups with its rugged R1S and R1T adventure vehicles.
The EV maker delivered over 50,000 vehicles last year, more than double the 24,337 handed over in 2022. It also hit its production goal with 57,232 vehicles built in 2023, topping the 54,000 guidance.
However, the pace slowed in Q4. Rivian’s CFO, Claire Mcdonough, explained the company expects “a more significant gap between production and deliveries in Q4.”
The gap is due to Amazon limiting new vehicle intake during the peak holiday season. According to registration data, Rivian was the fifth best-selling EV brand…