Delivery delays could prove costly for Rivian:
Rivian on May 11 said it was working on overhauling its order system to separate reservations from the configuration process, in an apparent attempt to tackle customer criticism over supply shortages in its order system.'THE WORLD HAS CHANGED'
"The markets have closed to every company, good and bad. You have to hunker down and set your priorities, and do whatever it takes to get to the other side," said Daniel Ninivaggi, chief executive at EV startupMotors Corp, which this month sold its plant to Taiwanese contract manufacturer Foxconn as cash reserves plummeted.
At $16 billion, Rivian boasts significantly more cash than Lordstown and other small EV startups, such as Canoo, which this month issued a going-concern warning. While Rivian has told investors it had enough cash on hand to open its second U.S. plant for $5 billion in 2025, patience may be wearing thin.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Top Wall Street Analysts See These Stocks as Long-Term WinnersTipRanks analyst ranking service pinpoints Wall Street’s best-performing stocks, including Peloton and Rivian.
Read more »
Georgia electrical vehicle factory becomes Kemp, Perdue campaign battleElectric truck maker Rivian wants to bring thousands of jobs to rural Georgia — but some Republicans want the 'woke corporation' to go back to California.
Read more »
Amazon tests having drivers make deliveries from local mallsPicking up packages from the mall may mean faster deliveries.
Read more »
'I am one of the favorite players to win Roland Garros': The meteoric rise of 19-year-old Carlos AlcarazIf Carlos Alcaraz is to win his first grand slam at Roland Garros, he will have to do it the hard way
Read more »
Ripple's General Counsel: The SEC's 'Hypocrisy Is Staggering' Filings Expected Next Week in XRP CaseSEC's 'hypocrisy is staggering,' says Ripple's general counsel, XRP case filings are due next week XRPArmy XRPCommunity XRPHolders XRPNews Crypto Cryptocurrency
Read more »