Rivian reaffirms production outlook despite supply-chain snags, boosting stock

Rivian Automotive Inc. stock rose more than 8% in after-hours trading Wednesday after the electric-vehicle maker kept its 2022 production outlook intact and tried to assure investors about it was on the right track amid a recent selloff of its shares.

Rivian made 2,553 vehicles in the quarter and delivered 1,227, generating $95 million in revenue, the company said. The company has worked with suppliers so they can ramp their production and Rivian can meet its demand, Scaringe said. Suppliers have “leaned in,” and that was in part what gave the company the confidence to keep its production goals, the CEO said.“We remain focused on ramping production throughout 2022,” the company said in its letter to shareholders.

If I was weebo from flubber, I’d be suing Rivian for intellectual property🐓suckers

I have incredible demand for my warp drive. I just can't build that many.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ford sells shares in EV maker Rivian for $214 millionFord sold eight million shares of electric-car maker Rivian for $214 million, or $26.80 apiece, the U.S. automaker said in a filing on Tuesday. So frustrating. Well it kinda makes sense Ford learned a lot from rivian, but now it time to focus on the lightning. If I had a billy I would buy rivian at this dip. Owners, fans , & critics love it. If they keep going they’ll be at every camp & job site Rivian electricvehicles Rivian invest
Source: therealautoblog - 🏆 528. / 51 Read more »