Hyperdrive
Rivian Sinks as Supply-Chain Woes Hamper Production Plans
- Electric-pickup maker sees building 25,000 vehicles this year
- Output is constrained by component shortages, company says
Rivian R1T
Photographer: Bing Guan/BloombergThis article is for subscribers only.
Electric-pickup maker Rivian Automotive Inc. said its plans to accelerate production are being constrained by overstretched supply chains, extending its stock slide after the startup’s rough start to the year.
Rivian said it expects to build 25,000 vehicles in 2022, a figure weighed down in part by component shortages. Without those hurdles, its factory would have capacity to build about 50,000 vehicles, Rivian said Thursday in a letter to shareholders as it reported quarterly results.