Rivian (RIVN) expects to meet 50k unit goal in 2023

Rivian reiterates production forecast as EV maker rushes to boost output

April 3, 2023 8:53 AM EDT

(Reuters) - Rivian Automotive Inc maintained its annual forecast on Monday as the electric-vehicle maker scrambles to lift output in an industry under pressure from an uncertain economy and a price war started by Tesla Inc.

Shares of Rivian, whose backers include Amazon.com Inc, fell 2.4% in a broad decline for EV stocks that saw Tesla fall 6.3% after its own production report.

Rivian made 9,395 vehicles in the first quarter ended March, a drop of more than 6% from the previous three... More

Rivian Automotive (RIVN) produced 9,395 vehicles and delivered 7,946 vehicles in Q1

April 3, 2023 8:39 AM EDT

Rivian Automotive, Inc. (NASDAQ: RIVN) today announced production totals for the quarter ending March 31, 2023. The company produced 9,395 vehicles at its manufacturing facility in Normal, Illinois and delivered 7,946 vehicles during the same period.

These figures remain in line with the... More

Stricter EV tax credit rules to take effect on April 18

March 31, 2023 1:53 PM EDT

The U.S. Treasury unveiled Friday stricter electric vehicle tax rules that will reduce or cut tax credits on some zero-emission models but grants buyers another two weeks before the new requirements take effect.

The EV battery sourcing guidance issued Friday triggers new requirements for critical minerals and battery components and takes effect for vehicle purchases starting April 18.

The rules are aimed at weaning the United States off dependence on China for EV battery supply chains and part of President Joe Biden's effort to make 50% of U.S. new vehicle sales by 2030 EVs... More