Rivian says it will build fewer vehicles this year than in 2023, due to a supply chain issue that emerged in the third quarter and “has become more acute in recent weeks.”

The company did not specify which specific component was affected. All it said was that it shared a common R1 platform (which powers its pickup and SUV) and the RCV utility vehicle, and that it housed the electric motors. The result is that Rivian now expects to have built between 47,000 and 49,000 vehicles by 2024, a big step down from its July goal of 57,000.

The company also delivered fewer electric vehicles in the third quarter than in the second. In the third quarter, only 10,018 Rivian vehicles made it into the hands of customers, compared to 13,970 in the second quarter. No explanation was provided for the drop in deliveries, but Rivian still believes the company can meet its full-year target of 50,500 to 52,000 vehicles delivered.

The trouble comes at a precarious time for Rivian. Broadly speaking, the company is eyeing the launch of its lower-cost R2 SUV in 2026. But Rivian was already grappling with the fact that 2024 would likely be a relatively flat growth year compared to 2023. Therefore, it came with a cost – saving boost. The company laid off 10% of its workforce in February and put plans to build a brand new facility in Georgia on hold. Additionally, the R1T pickup and R1S SUV were recently redesigned and made simpler to lose less money on each sale.