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2021-12-17

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Rivian tumbled over 12% in morning trading after it warned supply issues to hit 2021 production

Rivian tumbled over 12% in morning trading after it warned supply issues to hit 2021 production.It highlighted the challenges it is likely to face in ramping up production to take on EV leader Tesla Inc.Rivian also announced plans to build a $5 billion plant to ramp up capacity, while flagging production challenges even as it receives about 2,000 pre-orders every week."We don't want to read too much into near-term issues ... but it does highlight the risk that Rivian has a lot on its plate," RBC

Rivian tumbled over 12% in morning trading after it warned supply issues to hit 2021 production

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