Advertisement

Rivian Maintains Production Estimates. Here's Why That's a Big Deal

Rivian Maintains Production Estimates. Here's Why That's a Big Deal

After much of the hype died down from Rivian Automotive's (NASDAQ: RIVN) initial public offering last November, its stock plummeted from levels that had valued it at more than both Ford and General Motors at the time. Investors soon realized the realities involved in starting an electric vehicle company from scratch. Earlier this year, Rivian told investors that it would be limited to producing 25,000 vehicles for the full year even though it already had equipment and processes in place at its Illinois factory to support the production of 50,000.