Written by Matilde Alves | Edited by Cláudio Afonso
BlackRock, the world’s largest asset manager, disclosed on Friday that it added nearly 3.79 million shares in Rivian in the fourth quarter of 2024. The firm increased its stake in the company by 8.62%.
By the end of 2024, BlackRock held more than 47.7 million shares in the EV maker, up from 43.9 million shares as of the end of the third quarter, according to the latest 13F filing. According to Fintel, the position was valued at over $630 million as of December 31.
Rivian shares are trading 0.4% higher at $12.54 on early Monday after having closed 2.5% lower on Friday at $12.48. Over the last twelve months, the stock lost about 23% of its value.
BlackRock’s position in Rivian started at about 30.8 million shares and peaked in Q2 2023, with 55.8 million shares held.
In Q4 2024, BlackRock also increased its stake in the U.S. manufacturer Lucid Motors to more than 48.5 million shares valued at nearly $147 million. BlackRock’s assets under management surged in the last quarter of 2024 to a new record of $11.55 trillion, from $10.01 trillion a year earlier.
Rivian’s Institutional Ownership
As of Monday, and according to Fintel, Rivian has 1,113 institutional shareholders holding a total of about 627 million shares. Amazon,
Besides the three asset managers Vanguard Group, Baillie Gifford & Co, and BlackRock, Rivian’s largest institutional shareholder is the retail giant Amazon with a stake in the company of over 18%.
Amazon holds around 158 million shares since the company’s initial public offering (IPO) in late 2021.
Rivian x Amazon
The company, led by Jeff Bezos, had announced a partnership with the California-based carmaker in 2019, as part of its ‘Climate Pledge’ program. Rivian promised to deliver 100,000 fully electric delivery vans to Amazon by 2030 after the firm invested more than $1.3 billion.
Amazon started testing deliveries with Rivian preproduction delivery vans in 2021. The California-based EV maker delivered the first final units in 2022.
As of December 31, Rivian had delivered over 20,000 vans to Amazon. Last week, the company announced it is opening orders for the fully electric commercial van to other customers, with prices starting at $79,990.
Rivian U.S. sales and expansion
In the fourth quarter of 2024, Rivian delivered 14,183 electric vehicles, up 41.6% from the previous quarter (10,018 units). The company has produced a total of 49,476 vehicles in 2024.
In January, U.S. sales were of 3,060 units, a 39% fall year over year, according to Motor Intelligence estimates. The EV maker currently sells in the U.S. and Canada, and plans to expand to Europe in 2026 with its upcoming R2 model.
Written by Matilde Alves | Edited by Cláudio Afonso