Rivian’s Losses Nearly Triple to $1.7 Billion

Rivian Automotive Inc. reported its net loss in the second quarter nearly tripled to $1.7 billion, further pressuring the electric-vehicle startup to conserve cash and move quickly to fill customer orders. The California-based SUV and truck maker said revenue for the quarter was about $364 million as it increased production and deliveries of its first … Read more

Rivian Keeps 2022 Production Guidance Intact. The Stock Is Still Falling.

Text size The Rivian R1S should start shipping to customers in just a few months. Courtesy of Rivian Electric-truck maker Rivian Automotive reported a wider-than-expected quarterly loss, but more important, maintained its production estimates for the full year. The stock is wobbling while investors digest the news. Rivian (ticker: RIVN) reported an adjusted per-share loss … Read more

Rivian’s Great EV Expectations Meet the Harsh Reality of Manufacturing

At Rivian Automotive Inc.’s factory in Normal, Ill., life is anything but. Car factories around the world routinely churn out models around the clock. About eight months after production on Rivian’s electric trucks started, executives recently marked a milestone in uninterrupted work days: The company’s plant ran at full speed for an entire 10-hour work … Read more

Soros fund doubles down on Rivian bet, buys stakes in Lucid, Nio

Billionaire George Soros’s investment fund has doubled down on its bet on Rivian Automotive Inc. and taken new positions on EV makers Nio Inc. and Lucid Motors Inc., according to a filing late Friday. As disclosed in February, Soros’s fund had bought nearly 20 million shares of Rivian RIVN, +9.88%, worth about $2 billion at … Read more

Rivian Got Its First Sell Rating from Wall Street. The Stock Is Down.

Text size Rivian is expected to produce fewer cars than Wall Street had anticipated this year. Courtesy Rivian Wall Street has been pretty positive on Rivian Automotive stock, despite some rocky trading out of the gate for the electric-truck start-up. Now, shares have their first Sell rating from a large broker. Monday, Exane BNP Paribas … Read more

Soaring Nickel Will Drive Tesla, EV Players to Do This With Batteries

A basket of metals that go into lithium ion batteries is up 64% so far in 2022, which theoretically raises the sticker price of an average electric vehicle. Ronny Hartmann/AFP via Getty Images Text size Inflation is hitting the electric vehicle supply chain as the prices for metals that go into batteries soar. It isn’t … Read more

Rivian stock falls nearly 13% after EV maker loses more than $2 billion, trims production targets

An earlier version of this report had incorrect quarterly loss figures for Rivian. It has been corrected. Rivian Automotive Inc. lost more than $2 billion in the fourth quarter, saying that supply-chain disruptions and other problems continued to plague its assembly line. Rivian RIVN, -6.35% said late Thursday it lost $2.46 billion, or $4.83 a … Read more