Rivian Automotive Inc. reported a revenue rise in the last quarter, yet the company's forecast for vehicle deliveries remains disheartening, with projections of only 46,000 to 51,000 units for the year, down from over 51,000 last year. Despite some improvements, its ongoing losses and high vehicle prices contribute to concerns about market demand. The company, which once boasted a market cap exceeding $100 billion, now sees its valuation plummet below $14 billion, raising questions about its sustainability in a competitive EV market.
Rivian expects to deliver only 46,000 to 51,000 vehicles this year, indicating a worrying trend as unit sales are anticipated to fall from the previous year.
The company has faced significant losses, with expectations showing a bleak outlook despite a revenue increase in the last quarter of the year.
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