Rivian, the startup EV truck manufacturer that has faced production issues at its Normal plant, announced its fourth quarter and full-year earnings Thursday.
Rivian, the startup electric truck manufacturer, announced Thursday it has built 2,425 trucks to date, but the production ramp-up at its downstate Normal plant continues to be stuck in first gear, constrained in large part by supply chain issues.
Vehicles are assembled and tested Wednesday, April 14, 2021 before the new Rivian plant fully opened in Normal. [Most read] ‘I am not suicidal!’ Jussie Smollett sentenced to 150 days in Cook County Jail beginning immediately, shouts as he is led from courtRivian went public in November at $78 per share, with investors betting the EV startup would become the Tesla of trucks, pushing its valuation north of $100 billion — more than Ford or General Motors. But the stock has taken a beating this year amid investor concerns about vehicle production issues, dropping from a high of $179.
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