Rivian's journey since its IPO in November 2021 has been tumultuous, with its stock plummeting 86.64% due to challenges such as production errors and supply shortages. Despite these issues, the company is implementing strategies aimed at cost reductions and increased production capacity to achieve profitability by 2027.
Rivian aims to reduce material costs by 45% through the rollout of its Gen 2 platform by 2026, which is expected to enhance their market competitiveness and drive sustainable growth in the coming years.
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