The EV startup reported sales of $1.3bn in the third quarter, or a per-share loss of $1.19, sliding under the $1.31 projected loss.
A narrower Q2 loss coupled with more units to roll off the assembly line didn’t help the stock move an inch.
The EV maker also announced its deal with Tesla to power its vehicles on the Supercharger network in the US from 2024.
The EV maker says that it’s still on track to produce 50,000 electric vehicles this year.
The American EV manufacturer has been suffering from macroeconomic headwinds and supply chain issues.
The company is seeking to raise $1.3bn even as it ended 2022 with $12bn on its balance sheet.
In a market filled with disastrous earnings and plunging prices, EV maker Rivian offers a rare bright spot with its FY target.
What’s the simplest way for an EV company to anger its consumers? Well, take away all of their EVs, of course.
It’s the end of the month, and you know what that means… EV production numbers hit the market, and this time they’re rounding up quarterly progress as well.
Rivian’s wheels are a lil bit stuck in the supply chain mud, but investors pull the stock out the red after seeing its target-meeting production plans.
Rivian proves all the haters wrong as a production ramp-up sends it racing towards the completion of some ambitious goals.
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