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Tesla Rival Rivian Reports Steep Loss Of About $40K Per EV In Q3 As Deliveries Hit Lowest Since Q1 2023

Benzinga LogoBenzinga3d ago

Tesla Rival Rivian Reports Steep Loss Of About $40K Per EV In Q3 As Deliveries Hit Lowest Since Q1 2023 - Benzinga

Quick Summary:

EV company Rivian Automotive (NASDAQ:RIVN) reported a gross loss per unit delivered in the third quarter of $39,130, following a drop in deliveries in the three months through the end of September.

What Happened: Rivian delivered 10,018 electric vehicles in the third quarter, the lowest number of quarterly deliveries since the first quarter of 2023.

Gross loss per unit delivered subsequently rose to $39,130, marking a significant increase from the $32,705 loss per unit delivered reported in the second quarter.

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Tesla Rival Rivian Reports Steep Loss Of About $40K Per EV In Q3 As Deliveries Hit Lowest Since Q1 2023 - Benzinga (Picture 1)

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Article Details

Author / Journalist: Anan Ashraf

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-11 @ 09:19:11 (3 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 276 words

Reading Time: 2 minutes read

Sentences: 12 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23512078

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Official Website: benzinga.com

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