Transportation
Rivian Sees Flat Production This Year, Higher Output in 2025
- CEO says extended factory shutdown won’t prevent growth
- Company’s partnership with Volkswagen eases cash drain fears
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Rivian Automotive Inc. is sticking with a full-year vehicle production target unchanged from last year, but its chief executive officer expects output to grow in 2025 even with a plant shutdown looming.
The company projects stable production of 57,000 electric vehicles in 2024 after key assembly lines at its factory went offline for three weeks earlier this year. That same plant will be shutdown for more than a month next year to prepare for the launch of a new vehicle. CEO R.J. Scaringe said that won’t prevent the automaker from boosting output over 2024 levels.