Tesla's shift on low-cost cars throws Mexico, India factory plans into limbo [Yahoo! Finance]
Rivian Automotive, Inc. (RIVN)
Company Research
Source: Yahoo! Finance
this year, leaving investments in new factories in Mexico and India unlikely in the near term. The world's top EV maker said it plans to raise production by 50% from 2023 to its current capacity of close to 3 million vehicles before investing in new manufacturing lines. "This update may result in achieving less cost reduction than previously expected but enables us to prudently grow our vehicle volumes in a more capex efficient manner during uncertain times," the company said. Investors cheered the decision not to take the risks of building new models in new factories, with Tesla shares jumping 12% in after-hour trading despite the company's quarterly results missing financial targets. "I think it's a positive that he's not just barreling ahead with an expansion plan, ignoring the challenges in the market and the fact that he's doing a cheaper vehicle from the existing product line," said Elliot Johnson, chief investment officer at Evolve ETFs, which manages nearly $6 billion
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RIVN
News
- Contact Levi & Korsinsky by June 18, 2024 Deadline to Join Class Action Against Rivian Automotive, Inc.(RIVN)Accesswire
- Class Action Filed Against Rivian Automotive, Inc. (RIVN) - June 18, 2024 Deadline to Join - Contact Levi & KorsinskyAccesswire
- SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of RivianPR Newswire
- Contact Levi & Korsinsky by June 18, 2024 Deadline to Join Class Action Against Rivian Automotive, Inc.(RIVN)Accesswire
- Levi & Korsinsky Notifies Shareholders of Rivian Automotive, Inc.(RIVN) of a Class Action Lawsuit and an Upcoming DeadlineAccesswire
RIVN
Earnings
- 2/21/24 - Beat
RIVN
Sec Filings
- 5/3/24 - Form 8-K
- 4/29/24 - Form ARS
- 4/29/24 - Form DEFA14A
- RIVN's page on the SEC website