Rivian Automotive reports Q1 production of 13,980 EVs, exceeding analyst estimates but falling short of predictions.

Rivian Automotive reported Q1 production of 13,980 electric vehicles (EVs), surpassing the average analyst estimate of 13,817, but falling short of the predicted 14,250 units. The EV maker delivered 13,588 units to customers in Q1, a 3% decline from Q4 2022. Despite the production shortfall, Rivian reaffirmed its 2024 output target of approximately 57,000 units, aligning with the previous year's production.