Rivian will give investors a second quarter update on its financials as the pure-play adventure EV maker aims to make its production more efficient while gearing up for its mass-market EV releases in two years' time.
Investors will also be on the lookout for any updates on Rivian’s full-year profitability metrics. In its Q1 report the company said that as a result of its retooling upgrade and other improvements, Rivian remains "confident in its path to achieving modest gross profit in the fourth quarter of this year."at its Normal assembly plant and delivered 13,790 vehicles. Both figures were down compared to the 13,980 produced and 13,588 delivered in Q1.
For Rivian, the news of fresh capital allays concerns over the company’s runway as it bridges to the release of its next-generation vehicles, the R2 and R3 mass-market SUVs.