The EV company has produced new guidance numbers for its upcoming financial year.
Rivian’s (RIVN) Q4 2023 earnings report is out and chronicles the company’s financial performance over the last few months of its fiscal year. It also included a look forward at the upcoming fiscal year 2024. Rivian has announced that it plans to produce 57,000 EVs this year.
Rivian shared the update in its Q4 2023 earnings report. On page 6, the EV company confirms that it expects to produce 57,000 vehicles this year, which would be flat year-over-year with the 57,232 vehicles that it produced last year.
Source: Rivian
Rivian (RIVN) shares saw a significant drop in value following the publishing of its report. Shares traded as low as $12.75 before seeing a slight rebound.
With Rivian predicting a nearly identical year for vehicle production, it’ll be interesting to see how the stock performs in the coming months. For more EV updates, stay right here on Shacknews.
Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_
