Rivian takes revenue hit as supplier problem persists
Rivian Automotive(RIVN) TechCrunch·2024-11-08 05:16
Rivian reported Thursday revenue of $874 million in the third quarter — more than 12% lower than analysts estimates — as the EV startup struggled to resolve a component shortage that disrupted production of its recently overhauled flagship R1S and R1T vehicles. Last month, Rivian lowered its annual production guidance to 47,000 to 49,000 vehicles due to the “acute” supply problem for a component within its Enduro motor, a single-motor-per-axle system used in Rivian R1 vehicles. The Enduro motor, which first ...