– 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
Trump embarks on the first visit by a U.S. president to China in nearly a…
The surge in energy prices since March 2026 has revived questions about the pass-through to…
Emissions trading systems have been widely studied globally, but less attention has been paid to…
Given the likelihood of elevated inflation readings, the CPI on Tuesday and PPI on Wednesday.…
Oil rises, stocks fall as Middle East ceasefire falters and Strait of Hormuz remains blocked.…
Trump to visit China this week, to discuss Iran with Xi. Gold fell from a…