From CNBC:

Electric vehicle manufacturer Rivian’s shares dropped nearly 10% after reporting lower-than-expected deliveries in the fourth quarter of 2023 despite increased vehicle production compared to the previous period. The company delivered 13,972 vehicles, slightly below Wall Street’s estimate of 14,000 vehicles, but it exceeded its full-year production guidance by producing 57,232 vehicles in 2023. Rivian will announce its fourth-quarter earnings after markets close on Feb. 21.

On the same day, EV leader Tesla announced it had delivered 484,507 vehicles in the fourth quarter, surpassing Wall Street’s expectations of 477,000 vehicles. This marks a strong performance for Tesla, reinforcing its position as a leader in the EV market.



Read more: Rivian Q4 EV deliveries fall, stock slips