Rivian Builds 100,000th Vehicle Just Ahead of Plant Shutdown
Rivian, maker of the electric R1T pickup and R1S SUV, has just built its 100,000th vehicle. Production at the Normal, Illinois assembly plant initially started two and a half years ago, in September 2021.
This major milestone comes with Rivian’s toughest times in the rear-view mirror. The company went from losing almost $125,000 USD per vehicle in the fourth quarter of 2022 to $43,000 a year later. It also ended the fourth quarter of 2023 with over $9 billion in cash.
- Also: Rivian Unveils All-New 2026 R2 Midsize SUV, Along With Smaller R3 and R3X Siblings
- Also: These Are the Vehicles Consumers Like the Most and the Least in 2024
Our 100,000th Rivian! pic.twitter.com/7ZKwCASQBR
— RJ Scaringe (@RJScaringe) April 3, 2024
Now, a new growth phase is about to begin. The factory will be shut down from April 5-30 as new technologies and production methods are being implemented to significantly reduce costs. New suppliers will also be called upon.
Rivian expects 2024 deliveries to remain on par with last year—around 57,000 units—due to the shutdown and anticipates a “modest growth profit” at the end of 2024.
Late next year, production will get into a higher gear with the addition of the smaller and more affordable R2, R3 and R3X, which should attract more customers. Click on the link to learn more about those.
