Rivian delivers on Q2 revenue, expects loss to widen another $700M

Rivian delivers on Q2 revenue, expects loss to widen another $700M

2 years ago
Anonymous $Dcz6_RW03I

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.”  

Rivian delivers on Q2 revenue, expects loss to widen another $700M

Aug 11, 2022, 9:21pm UTC
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.”