:Rivian Automotive Inc on Monday missed first-quarter production estimates as the electric-vehicle maker grappled with supply chain constraints, sending its shares down 4 per cent in early trade.
The Amazon-backed company had said it stopped its commercial production line for the majority of the first quarter of 2023 to introduce new technologies including lithium iron phosphate battery packs. The electric-vehicle maker has been losing money on every vehicle it builds, and narrowly missed its annual production target of 25,000 units last year.
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