Rivian Revises Annual Production Guidance To Be 47,000 - 49,000 Vehicles (Prior 57,000), Citing Supply Shortage
Portfolio Pulse from Benzinga Newsdesk
Rivian has revised its annual production guidance down to 47,000 - 49,000 vehicles from a previous estimate of 57,000 due to a supply shortage affecting its R1 and RCV platforms. Despite this, the company maintains its delivery outlook for 2023 at 50,500 to 52,000 vehicles.
October 04, 2024 | 10:09 am
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Rivian has lowered its production guidance for the year due to a supply shortage affecting its R1 and RCV platforms. The company now expects to produce 47,000 to 49,000 vehicles, down from 57,000. However, it maintains its delivery outlook for 2023.
The reduction in production guidance is likely to negatively impact Rivian's stock price in the short term as it signals operational challenges. However, maintaining the delivery outlook may mitigate some investor concerns.
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