Rivian delivers on Q2 revenue, expects loss to widen another $700M
https://techcrunch.com/2022/08/11/rivian-q2-earnings-2022-rivn-losses-revenue-beat/
Rivian is holding on tight to its goal of delivering 25,000 electric vehicle by year’s end, but to get there it now anticipates to burn an extra $700 million.
The automaker tucked the revised guidance on losses within its second quarter earnings report, telling investors that it expects to lose a whopping $5.45 billion in 2022, up from the $4.75 billion estimate it shared three months earlier. Rivian blamed the hike on several factors, including “supply chain challenges” and “raw material inflation.”