Rivian, Lucid and other EV startups scramble to shore up cash and reassure Wall Street [CNBC]
Rivian Automotive, Inc. (RIVN)
Company Research
Source: CNBC
That is if they haven't gone bankrupt already. Chief among their talking points: cash. Executives of Rivian Automotive, Lucid Group and Nikola Corp. this week each detailed plans to reduce costs while attempting to grow operations and make their first profits. Those efforts have ranged from job cuts and production changes to supplier rearrangements and shifting priorities. The scramble comes as EV adoption takes hold slower than many expected and after companies spent billions in an attempt to rush vehicles to market to gain first-mover advantages in white-space segments. The slowdown, as well as the increased competition, has even impacted U.S. EV leader Tesla , which is in the midst of a global restructuring that includes laying off roughly 10% of its workforce. Wall Street analysts have referred to the current state of the electric vehicle market as an “EV winter,” an end to so-called “EV Euphoria” or, more optimistically, a temporary pullback that carmakers will need to
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RIVN
News
- Labaton Keller Sucharow LLP Announces Securities Class Action Lawsuit Filed Against Rivian Automotive, Inc. and Certain ExecutivesBusiness Wire
- Levi & Korsinsky Notifies Shareholders of Rivian Automotive, Inc. (RIVN) of a Class Action Lawsuit and an Upcoming DeadlineAccesswire
- Shareholders of Rivian Automotive, Inc. Should Contact Levi & Korsinsky Before June 18, 2024 to Discuss Your Rights – RIVNGlobeNewswire
- DEADLINE ACTION NOTICE: The Schall Law Firm Encourages Investors in Rivian Automotive, Inc. with Losses In Excess of $250,000 to Contact the FirmAccesswire
- Jeep's Wagoneer S Trailhawk concept teases a fully electric off-roader [Verge, The]Verge, The
RIVN
Earnings
- 5/7/24 - Beat
RIVN
Sec Filings
- 5/30/24 - Form SD
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- RIVN's page on the SEC website