California-based EV startup Rivian Automotive RIVN sold more electric vans last year in the U.S. than Dearborn-based legacy automaker Ford Motor Co F, according to recent data from automotive research firm Kelley Blue Book.
What Happened: As per the data, Rivian sold 13,560 electric delivery vans in 2024, marking a growth of 68% from the corresponding period of 2023.
Ford also witnessed a significant jump in its E-Transit electric van sales in the period but not enough to overtake Rivian. The automaker sold 12,610 units of the E-Transit electric van in 2024, as compared to just 7,672 units in 2023.
Rivian and Ford have a similar electric vehicle lineup in terms of the vehicle types they offer. They have just three EV offerings each in the U.S.- an SUV, a pickup, and a van.
Why It Matters: While Rivian’s current lineup includes the R1S SUV, the R1T truck, and the Rivian delivery vans, Ford offers the Mustang Mach-E SUV, the F-150 Lightning pickup, and the E-Transit van.
However, when you consider cumulative sales in the U.S., Ford outrun Rivian in 2024 with 97,865 EVs sold as compared to Rivian’s 51,579 sales.
This is likely because of the higher price point of Rivian’s offerings as compared to Ford’s. While Ford’s Mustang Mach-E starts at $39,995 for the base variant, the Rivian R1S SUV starts at $75,900.
Rivian shares are up 2.9% in premarket trading on Tuesday. The stock closed down 2.6% on Monday at $13.49 and is up by 1% year-to-date, according to data from Benzinga Pro.
Ford shares, meanwhile, closed up 0.6% at $9.71 on Monday. The stock is down by 2% year-to-date.
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