Electric truck developer Rivian Automotive reported it built 24,337 electric vehicles in 2022, narrowly missing its annual target of 25,000 as it ramped up production in the final months of the year. RIVN pumped out 10,020 vehicles in the last quarter. Rivian builds vehicles across two consumer lines and a delivery van for Amazon.com Inc. The company has been making wider losses than estimated in its earnings since going public. Rivian said it delivered 20,332 vehicles to customers during 2022. … Continue reading “Rivian Automotive Narrowly Misses 25,000 Electric Truck Production Target”
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”