Tesla Rival Rivian Narrowly Misses Its Bet

It’s a horrible year that ends on a false note. 

But this is not really a surprise either for investors or for Rivian shareholders. 

The upstart, seen as one of Tesla’s most serious rivals, had a nightmarish year 2022. Nothing went the way the Irvine, CA-based band hoped. 

Rivian  (RIVN) – Get Free Report, which started producing cars in 2021, predicted that 2022 would be the year of ramp-up or mass production. Unfortunately it turned out to be one of increased difficulties. The automaker encountered many problems including major disruptions related to the supply chain, which led it to halve its initial production target of 50,000 vehicles mid-year. Rivian was then less ambitious, planning to produce only 25,000 vehicles over the whole year. 

Source: https://www.thestreet.com/technology/tesla-rival-rivian-narrowly-misses-its-bet?puc=yahoo&cm_ven=YAHOO&yptr=yahoo