EV maker Rivian beats revenue 

By  S_vk1312

AUG 12, 2022

Source : google

Rivian Automotive Inc, a manufacturer of electric vehicles, beat estimates for quarterly revenue on Thursday

Source : google

Production increased, enabling it to deliver more vans, pickup trucks, and SUVs

Source : google

The company has recently begun to address supply chain issues and shortages of semiconductors

Source : UNSPLASH

Due to this, it is facing challenge to satisfy the growing demand for electric vehicles

Source : UNSPLASH

Rivian confirmed that it expects to produce 25,000 units annually

Source : google

By the end of the third quarter, it anticipates adding a second shift for vehicle assembly at its Normal, Illinois plant

Source : google

The EV manufacturer delivered 4,467 vehicles in the second quarter that ended on June 30

Source : google

Company claimed that for its R1S SUV and R1T pickup trucks it has received  98,000 pre-orders

Source : google

Analysts had predicted $337.5 million in revenue for the second quarter, but actual revenue was $364 million

Source : google

Net loss increased from $580 million to $1.71 billions

Source : google