10:32 AM EST, 01/03/2025 (MT Newswires) -- (Rewrites throughout, adding share price movement in first paragraph, full-year production in fourth paragraph.)

Rivian Automotive ( RIVN ) shares gained more than 18% early Friday after the electric vehicle maker said it produced 12,727 vehicles in Q4 at its production site in Normal, Illinois.

Customers took delivery of 14,183 vehicles during the quarter ended Dec. 31, Rivian said, adding that a shortage of a shared components for the R1 and RCV platforms was no longer constraining production.

Q4 production and deliveries topped projections in a Bloomberg survey that expected Rivian to produce 11,458 vehicles and deliver 13,402.

For all of 2024, the carmaker produced 49,476 vehicles and delivered 51,579, in line with the company's full-year projections.

Rivian said it will report Q4 financial results after markets close on Feb. 20.

Price: 15.59, Change: +2.34, Percent Change: +17.62