Rivian's shares have plummeted by 55% this year largely due to a July sell-off, highlighting the volatility in the EV market, particularly for smaller companies.
Due to ongoing supplier problems, Rivian has reduced its production forecast for the year from 57,000 to 47,000-49,000 units, addressing concerns about its operational viability.
Analysts project Rivian will only generate just over $1 billion in revenue, with an expected loss of $0.91 per share, painting a bleak picture for its future.
The introduction of VW's Scout Traveler, which is poised to compete with Rivian's R1S, could signify additional competitive pressures that Rivian may face ahead.
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