Electric Truck Developer Rivian Automotive Reaffirms Production Target as Losses Mount

Electric truck developer Rivian Automotive reported wider losses than estimated in its second quarter earnings, losing $1.7 billion. The automaker’s losses more than doubled from the same period last year, when it lost $580 million. RIVN affirmed prior production guidance to launch the R2 vehicle in Georgia with the $15.46 bln cash on hand it still has. Last year the EV upstart raised $11.9 billion to become the largest IPO of 2021, and the largest IPO since Alibaba (NYSE: BABA) … Continue reading “Electric Truck Developer Rivian Automotive Reaffirms Production Target as Losses Mount”