Rivian Shares Rise After Sticking to Production Plan
July 06 2022 - 10:27AM
Dow Jones News
By Dean Seal
Shares of Rivian Automotive Inc. rose 8.5% to $29.11 in early
trading after the company said it is on track to produce 25,000
electric vehicles this year.
The electric-truck startup said Wednesday that it produced 4,401
vehicles at its manufacturing facility in Normal, Illinois, during
the quarter ended June 30.
That figure is in line with expectations and puts Rivian on
track to deliver on its previous annual production guidance, the
company said.
Rivian has been battling supply-chain problems that stifled
factory output in recent months, but the company said in May that
those disruptions should ease later this year.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
July 06, 2022 10:12 ET (14:12 GMT)
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