EV Maker Rivian Stands by Production Target Despite Supply-chain Snarls

Friday, May 13th, 2022

Rivian Automotive Inc (RIVN.O) on Wednesday reaffirmed its annual production forecast of 25,000 units, saying ongoing supply chain disruptions and material costs prevented the electric vehicle maker from reaching its original target of 50,000 vehicles.

The Irvine, California-based company's shares rose 5% in extended trading after closing the day down 9.6%. See more here