Automotive industry: Rivian reports lower loss than expected - success with new SUV
Rivian exceeds expectations with a smaller loss and a 38 percent sales increase, Wall Street. The SUV model R2 has become the brand's best-selling vehicle.
Rivian, a US electric vehicle manufacturer, reported a smaller-than-expected loss in the third quarter. The company's adjusted loss was 48 cents per share, beating analyst expectations of 61 cents. Rivian's new SUV model, the R2, was the brand's best-selling model in its first full quarter on the market, contributing to a 38% increase in revenue to $2.2 billion. The company raised its delivery forecast for the year to up to 70,000 vehicles, and its stock rose over 6% in after-hours trading.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
