Rivian Automotive CEO RJ Scaringe Says Will Start To Feel Impact Of Changing Suppliers In Q1, Shutting Down Assembly Line For Weeks In Q2; Consumers Behaving More Consciously, Seeing Short-Term Demand Headwinds Shown In Forecast
Portfolio Pulse from Benzinga Newsdesk
Rivian Automotive's CEO RJ Scaringe announced during a conference call that the company will begin to experience the impact of changing suppliers in Q1 and plans to shut down its assembly line for several weeks in Q2. This adjustment is in response to consumers behaving more consciously, leading to short-term demand headwinds as reflected in the company's forecast.
February 21, 2024 | 10:11 pm
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Rivian Automotive is facing short-term demand challenges and will shut down its assembly line for weeks in Q2 due to the impact of changing suppliers, as announced by CEO RJ Scaringe.
The announcement by Rivian's CEO about the impact of changing suppliers and the planned assembly line shutdowns directly affects the company's production capabilities and short-term demand outlook. This news is likely to concern investors and could negatively impact Rivian's stock price in the short term due to potential disruptions in vehicle production and delivery timelines.
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