Rivian has managed to boost its production late this summer, but is the EV startup out of the woods? Here's what's going on.
"These figures remain in line with the company's expectations, and it believes it is on track to deliver on the 25,000 annual production guidance previously provided," the company added.
in July of this year, though it hasn't shared just how many examples it has been able to provide the online retail giant so far. Amazon has ordered some 100,000 vans from the EV maker—an order which will take a few years to fulfill.Not quite, as Rivian is still burning cash at a breathtaking pace. The company posted a $1.7 billion loss in the second quarter, blaming higher materials pricing, and has hinted that the situation may not improve in the near term.
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