August 11, 2022 08:53 pm
Original Link: https://www.theverge.com/2022/8/11/23301444/rivian-q2-2022-earnings-ev-r1t-r1s
Rivian reports more losses in the second quarter of 2022
Rivian, the buzzy electric vehicle company backed by Ford and Amazon, reported a net loss of $1.71 billion in the second quarter of 2022 based on $364 million in revenue. It’s a sign that Rivian’s nascent EV business is picking up speed, albeit slowly compared to the previous quarter in which Rivian reported a based on $95 million in revenue. Still, the company beat Wall Street expectations for revenue by about $26 million.
The earnings report was also an indication that Rivian still has a ways to go before it can deliver on its promise to upend the auto industry with beautifully designed, emissions-free, adventure-themed trucks and SUVs. The automaker said it expects to burn through $700 million in additional...
Original Link: https://www.theverge.com/2022/8/11/23301444/rivian-q2-2022-earnings-ev-r1t-r1s
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