Advertisement
Canada markets open in 7 hours 14 minutes

  • S&P/TSX

    22,011.72
    +139.76 (+0.64%)
     

  • S&P 500

    5,070.55
    +59.95 (+1.20%)
     

  • DOW

    38,503.69
    +263.71 (+0.69%)
     

  • CAD/USD

    0.7315
    -0.0006 (-0.08%)
     

  • CRUDE OIL

    83.46
    +0.10 (+0.12%)
     

  • Bitcoin CAD

    91,110.91
    +64.55 (+0.07%)
     

  • CMC Crypto 200

    1,417.28
    -6.82 (-0.48%)
     

  • GOLD FUTURES

    2,343.50
    +1.40 (+0.06%)
     

  • RUSSELL 2000

    2,002.64
    +35.17 (+1.79%)
     

  • 10-Yr Bond

    4.5980
    -0.0520 (-1.12%)
     

  • NASDAQ futures

    17,728.00
    +121.25 (+0.69%)
     

  • VOLATILITY

    15.69
    -1.25 (-7.38%)
     

  • FTSE

    8,044.81
    +20.94 (+0.26%)
     

  • NIKKEI 225

    38,408.01
    +855.85 (+2.28%)
     

  • CAD/EUR

    0.6835
    -0.0001 (-0.01%)
     

Rivian produces over 7,000 vehicles in third quarter, maintains full-year target

Reuters
Updated ·1 min read
Manufacturing expert tears down the Rivian electric truck

(Reuters) -Rivian Automotive Inc said on Monday it produced 7,363 vehicles at its manufacturing facility in Normal, Illinois and delivered 6,584 vehicles in the quarter ended Sept. 30.

The company also reiterated its full-year production target of 25,000 vehicles, sending shares up 9% in post-market trade.

The Amazon.com Inc-backed electric vehicle company produced 4,401 and delivered 4,467 vehicles in the preceding quarter.

Rivian's rival and the world's most valuable automaker Tesla Inc missed market expectations for deliveries in the third quarter.

Tesla cited higher costs and headwinds in logistics for the shortfall, which together with rising costs of materials and a dull outlook for global economic growth weighed on EV stocks on Monday.

At its most recent quarterly report, Rivian had said it expected higher operating loss for the full year due to rising costs.

(Reporting by Yuvraj Malik in Bengaluru; Editing by Krishna Chandra Eluri)