Rivian tumbles to lowest since IPO after production warning

Richard Clough

Rivian Automotive's shares fell to the lowest level since they started trading last month after the electric-truck maker's debut earnings report revealed a slower-than-expected increase in production.

The buzzy company expects to fall "a few hundred vehicles short" of its goal to make 1,200 this year. RJ Scaringe, Rivian's chief executive officer, told analysts after Thursday's close that ramping up production rates has been harder than anticipated.

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