Rivian Burns Lot More Cash In The Process of Delivering Lot More EV In Q2

Although scaling up manufacturing is extremely difficult, Rivian is now doing it.

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It more than tripled output in the second quarter after only producing 1,227 automobiles in the first.

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The producer of electric trucks, SUVs, and delivery vans has also come under fire for how much money it is spending.

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Operating costs for Rivian reached more than $1 billion in the first quarter.

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Analysts will be eagerly observing the release of the company's Q2 earnings report because that represents a more than doubling of the $410 million it spent during the same time period last year

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In order to attain its goal of 25,000 customers, the corporation must spend more money now in the hopes that it will save much more afterward.

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unit production goal this year. “Massive operating costs in the second quarter, stemming from advanced product development activities, are likely to have dented margins,” Zacks said.

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