The electric automaker Rivian says it made just under 50,000 vehicles in Normal in 2024 and that supply problems with a key motor part have been fixed.
Rivian produced 49,476 vehicles in 2024, down 14% from the year before. Some of that drop was intentional. Production slowed as the company completed a major retooling of its Normal plant, aimed at lower material and manufacturing costs.
But production was also disrupted by the shortage of a shared component used within Rivian’s Enduro motor system in its SUVs, pickups and delivery vans. In a statement Friday, Rivian said that component shortage “is no longer a constraint on Rivian’s production.”
Initially, Rivian expected to produce 57,000 vehicles in 2024, the same as in 2023. After that problem with the motor part, that target was lowered to between 47,000-49,000 vehicles. Rivian’s stock price rose sharply Friday after it confirmed it hit that lowered goal.
Rivian will release its fourth-quarter 2024 financial results on Feb. 20. The company previously said it was on track for positive gross profit for the quarter ‒ a big moment if it happens.
Rivian employs around 8,000 people in Normal, making it the second-largest employer in McLean County. Rivian is also preparing the plant to begin producing the company's new model, called the R2, which company officials say will be a "fundamental driver" of growth.
