– Rivian Automotive on Monday beat Wall Street expectations for quarterly deliveries on stable demand for its electric vehicles, sending its shares up nearly 9% in premarket trading.
The company, which has been struggling with supply chain hurdles, reiterated its annual production target of 50,000 units.
The Irvine, California-based startup, which makes R1T pickup trucks and R1S SUVs, has been developing its own drive unit to lower costs and reduce dependency on suppliers.
Rivian second-quarter vehicle deliveries jumped 59% to 12,640, compared with estimates of 11,000 vehicles, according to 15 analysts polled by Visible Alpha.
It produced 13,992 vehicles at its manufacturing facility in Normal, Illinois during the same period, 4,597 more than in the first quarter.
Source : Reuters
Oil price shocks do not simply make conflict more likely everywhere; they change where violence…
There is growing evidence that place-based industrial policies lead to positive economic effects. This column…
Christian Mumssen, the fund's new director of strategy, cited a rapid succession of major shocks…
Gold bounces from two-week low, markets await US inflation data. Gold ticked higher on Tuesday…
Reuters poll forecasts U.S. headline inflation at 3.8%. The dollar remained in sight of 13-month…
When Credit Suisse failed in March 2023, Swiss authorities, against market expectations, set aside the…