On Tuesday after the market close, Rivian Automotive (NASDAQ: RIVN) announced its vehicle production and delivery numbers for the fourth quarter of 2022 and for the full year. The California-based premium electric vehicle (EV) maker missed its annual production target of 25,000 vehicles; it hadn't provided a target for deliveries. For background, Rivian held its initial public offering (IPO) in November 2021. Read More...
TheStreet.com
Tesla Rival Rivian Narrowly Misses Its Bet
The upstart, seen as one of Tesla’s most serious rivals, had a nightmarish year 2022. Rivian , which started producing cars in 2021, predicted that 2022 would be the year of ramp-up or mass production. The automaker encountered many problems including major disruptions related to the supply chain, which led it to halve its initial production target of 50,000 vehicles mid-year.
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