Rivian raises production forecast for 2023, narrows losses in Q3

Rivian raises production forecast for 2023, narrows losses in Q3

a year ago
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https://techcrunch.com/2023/11/07/rivian-raises-production-forecast-for-2023-narrows-losses-in-q3/

Rivian continued to close the gap on losses, reduce costs and ramp up production in the third quarter with results that beat Wall Street expectations and suggested a rosier future, including raising its annual production guidance from 52,000 to 54,000 vehicles.

The EV maker reported Tuesday after markets closed revenue of $1.33 billion, a figure driven by deliveries of 15,564 vehicles and more than double from the same period last year. The company also showed modest 1.5% revenue growth quarter over quarter.