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Rivian started a tough year on a flat foot

Rivian built 13,980 vehicles and delivered 13,588 of them in the first quarter of 2024, down from the fourth quarter of 2023.

Rivian plans to shut down its production lines for weeks in the second quarter so it can make upgrades that should help it lower the cost of building its EVs — another critical challenge it must overcome if it hopes to remain a relevant player and stay in the game long enough to bring its next-generation R2 EVs to market in 2026. Producing and selling vehicles, which includes the R1S SUV, R1T pickup and two versions of a commercial electric van, has never been the company’s only challenge. All this uncertainty is coming at a time when many companies are having trouble meeting the lofty expectations that were set by booming EV sales over the last two years.

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