—after the electric truck maker warned that it would miss its 2021 production target due to ongoing supply chain issues.... [+]Rivian’s stock fell as much as 15%—a new low point of less than $100 per share—before paring back losses and finishing the day down over 10%.
Despite a surge in customer orders, with reservations for Rivian’s electric pickup trucks and SUVs up 28% from last month, the company said that it will be “a few hundred vehicles short” of its 2021 production target of 1,200 vehicles. Rivian attributed the miss to ongoing supply chain issues, as well as problems with ramping up battery production to power the electric vehicles—though CEO RJ Scaringe said that didn’t “present any long-term challenges.”
The company said in its earnings release that as of December 15, it had so far produced 652 R1T pickups and R1S SUVs, with 386 of those delivered so far. at a $90 billion valuation on November 10 in what was one of the biggest IPOs of the year.“Ramping up a production system like this, as I said before, is a really complex orchestra,” Scaringe told investors on Thursday.
Bitcoin is something worth talking about, I decided to give it a try when i witnessed how it lifted my friend to his financial hierarchy. I invest $1500 worth of bitcoin and now with the current increase in bitcoin price I got $17,200 just in a week with the help Shelia_A_Gooch
Build them as soon as possible, this is a ticket to 3 Trillions dollars valuation.
they'll need A LOT of money in the next few years to stay alive until they are profitable
Many people in america got rich with no clue.
Greatest trader of all time Geoffreypreud . I never believed it until I experienced it. For a start I deposited $680 to test the waters, in few days I got a return of $2,900. Thanks Geoffrey
wow
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: WSJ - 🏆 98. / 63 Read more »