Reported 8 months ago
Rivian, the electric vehicle manufacturer, is anticipated to announce its first quarterly revenue drop since becoming public three years ago, attributed to a parts shortage that led to a reduced production target for 2024. CEO RJ Scaringe may face challenging inquiries about the continuity of the supply issues and the company's strategies to address them. Despite a significant drop in deliveries and a projected revenue decline of 25% in Q3, Rivian reaffirmed its annual delivery outlook while navigating a changing market where rising interest rates have dampened EV demand.
Source: YAHOO