
There was a general rise in the Dow, S&P 500 and Nasdaq Composite indexes following hints that the Fed policy would favor the general market.
Rivian is an electric vehicle manufacturer that works to offset the carbon footprint.
Rivian Automotive, Inc. is an American electric vehicle manufacturer and automotive technology company founded in 2009. Rivian is building an electric sport utility vehicle (SUV) and pickup truck on a “skateboard” platform that can support future vehicles or be adopted by other companies. An electric delivery van is also being built as part of a partnership with Amazon. Rivian started deliveries of its R1T pickup truck in late 2021. The company plans to build an exclusive charging network in the United States and Canada by the end of 2023.
Rivian is based in Irvine, California, with its manufacturing plant in Normal, Illinois, and other facilities in Palo Alto, California; Carson, California; Plymouth, Michigan; Vancouver, British Columbia; Wittmann, Arizona; and Woking, England. Additionally, Rivian has plans to build another US$5 billion factory in Georgia.
The company raised over US$13.5 billion in financing following its IPO in November 2021.
Electric vehicle charging, Vehicle insurance
There was a general rise in the Dow, S&P 500 and Nasdaq Composite indexes following hints that the Fed policy would favor the general market.
The preliminary estimates for the third quarter revealed that Rivian has cash and cash equivalent of about $9.1 billion as of September 30.
Following to the progress achieved in Q2, Rivian is expecting to raise its previous full-year production guidance from 50,000 units to 52,000 units.