Posted 2/20/2024, 3:23:35 PM
Rivian Faces Production and Profitability Hurdles Amid Intensifying EV Competition
- Rivian faces challenges proving it can scale production and sell vehicles profitably amid slowing EV demand
- The company continues to burn through cash at concerning rates - $64,000 for every vehicle delivered
- Rivian expected to report Q4 results on Wednesday; investors seek clarity on production capacity and cost control
- Competition intensifies as rivals like Tesla cut prices; overproduction signals weakening demand
- With spending needs high but demand uncertain, Rivian must balance expansion with prudent cost management