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. Rivian's quarterly production slips in Q1, https://www.reuters.com/graphics/RIVIAN-PRODUCTION/lbvggjkkqvq/chart_eikon.jpg"We expect full-year production to be back-end weighted due to supply constraints...and the commercial line downtime we're taking in Q1 2023," finance chief Claire McDonough said on an earnings call in February.
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