EV maker Rivian may report first quarterly revenue drop since IPO

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The story "EV maker Rivian may report first quarterly revenue drop since IPO" was covered 2 weeks ago by Channel News Asia, a news publisher based in Singapore.

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EV maker Rivian may report first quarterly revenue drop since IPO - Channel News Asia

Quick Summary:

Rivian is expected to report on Thursday its first drop in quarterly revenue since going public three years ago, after a shortage of parts forced the maker of electric SUVs and pickups to slash its 2024 production target last month.

Months after nixing a planned three-row electric SUV, Ford said in October it would halt production of its F-150 Lightning EV pickups for six weeks.

Shares in luxury EV maker Lucid, which is also set to report quarterly earnings on Thursday, has nearly halved this year.