Rivian investor day focuses on cost reductions, efficiencies and next-generation EVs [CNBC]
Rivian Automotive, Inc. (RIVN)
Company Research
Source: CNBC
Shares of the all-electric vehicle startup were down by roughly 2% to 6% for much of the event, eating into some of its 23.2% gain in shares Wednesday that came after it announced plans for an up to $5 billion investment by Volkswagen Group . Shares of the company remain off by roughly 40% this year amid significant cash burn and slowdown in EV sales. Rivian on Thursday reconfirmed its 2024 guidance that included production of 57,000 vehicles and a path to positive gross profit during the fourth quarter, including regulatory credits. It also outlined longer-term growths, such as plans to achieve positive adjusted earnings before interest, taxes, depreciation and amortization in 2027. “Everything that you're hearing from us, around our product, around how we're running the business, around how we're driving toward profitability, my hope is that you're seeing really an extreme sense of urgency,” Rivian CEO RJ Scaringe said during the event. “We're very, very fast driving towards th
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RIVN
News
- Oliver Blume, VW and Porsche boss steering an EV strategy shift [FT.com - Mergermarket]FT.com - Mergermarket
- Oliver Blume, VW and Porsche boss steering an EV strategy shift [Financial Times (FT.com) (UK)]Financial Times
- Rivian Automotive, Inc. Sued for Securities Law Violations – Investors Should Contact Levi & Korsinsky Before July 30, 2024 to Discuss Your Rights – RIVNAccesswire
- Shareholders that lost money on Rivian Automotive, Inc. (RIVN) Urged to Join Class Action - Contact Levi & Korsinsky to Learn MoreAccesswire
- Rivian Announces Plans to Launch Five More Models After $5 Billion Volkswagen Investment [Yahoo! Finance]Yahoo! Finance
RIVN
Earnings
- 5/7/24 - Beat
RIVN
Sec Filings
- 6/27/24 - Form 4
- 6/27/24 - Form 8-K
- 6/25/24 - Form 8-K
- RIVN's page on the SEC website