Rivian Stock Dives As Supply Chain Snarls Halve 2022 Production Forecast

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The Street

By Martin Baccardax Upstart Tesla rival Rivan said supply chain challenges will limit its 2022 output to around 25,000 vehicles, around half of its prior forecast. Rivian Automotive (RIVN) – Get Rivian Automotive, Inc. Class A Report shares fell sharply Friday after the upstart EV maker warned that supply chain issues would halve its 2022 production forecasts following a wider-than-expected fourth quarter loss of $2.5 billion. Rivian, which is hoping to ramp-up production in the coming years to challenge established rivals such as Tesla (TSLA) – Get Tesla Inc Report in the global EV market, ha…

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