Rivian confirms its goal of 2022 EV production despite equipment issues.

Amazon ordered 100,000 trucks, but Rivian declined to say how much it shipped. On Wednesday, he only said it was “manufacturing and exporting.” On the phone call with the inspectors, Mr. Scaringe said he expects trucks to account for about a third of the 25,000 vehicles by 2022 estimated production.

In many ways, the Rivian epitomizes the sharp shift to bearishness in the stock market this year.

In November, investors put in its first public offering, in which the company raised $ 13.5 billion, and its stock rose, briefly giving Rivian business costs that are nearly as large as those of Ford Motor and General Motors together.

But the stock market fell this year after the company cut its manufacturing targets. The 80 percent decline in Rivian shares was far more than the 31 percent decline in Tesla products in the same period and the 38 percent decline in Ford, which is shows himself electric car.

Rivian made cars in Always, Ill., And set up another factory in Georgia. The construction and operation of the assembly line requires a large amount of cash, which is why new car companies can run into bad financial if the market downturn and sales. short. Even Tesla, which sells more electric cars than any other company, sometimes finds itself running low on money.

In the first quarter, Rivian spent about $ 1.45 billion in cash to run its business and invest in new facilities and equipment, more than the $ 800 million it spent on the first three years. The company had $ 16.4 billion in cash on its balance sheet at the end of the first quarter, down from $ 18.1 billion at the end of last year.

The loss of Rivian stock reduced the value of the stakes held by its largest investors. Amazon’s 18 percent of affiliates are worth $ 3.2 billion, down from $ 16.8 billion at the beginning of the year. Ford, another early trader, sold some of its shares on Monday, and its stake was still worth $ 1.9 billion. It will be worth $ 9.7 billion at the end of last year.

Rivian said he spent more than 10,000 orders on his car and his SUV after he raised prices in March. Those orders had an average value of more than $ 93,000, the company added.

But because Rivian cars are selling at high prices, analysts expect the demand to be much higher if inflation continues to consume household consumption. “It remains to be seen how much people get healthy for the price of Rivian,” he said. Nelson said.

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