Rivian Automotive Vehicle production and deliveries in 2024 were in line with the company’s previously announced expectations.

The electric vehicle maker said Friday that it produced 49,476 vehicles last year, including 12,727 trucks and vans in the fourth quarter, and delivered 51,579 vehicles, including 14,183 models, in the final three months of the year.

Rivian in October lowered its 2024 production target to 47,000 to 49,000 vehicles from 57,000 units. The company had expected deliveries of between 50,500 and 52,000 vehicles.

The company said in October that the adjusted target was due to a “production disruption due to the lack of a common component” for its current vehicles – the R1T pickup, R1S SUV and a commercial van.

The company said Friday that the previously discussed shortage “no longer represents a constraint on Rivian’s production.”

Rivian shares rose more than 10% during early Friday morning trading. The stock lost 43% last year as the company burned through cash and missed production targets.

Rivian is scheduled to report its fourth-quarter financial results on February 20.