Rivian Surpasses Production Goals, Boosts Sales Beyond Expectations
TL;DR Summary
Rivian raises its 2023 EV production guidance and reports better-than-expected Q3 revenue, leading to a rise in stock prices. In contrast, Lucid lowers its 2023 production outlook and experiences a significant decline in Q3 revenue, causing a drop in stock prices. Both companies are high-end electric vehicle manufacturers facing concerns about a global EV slowdown. Tesla's CEO, Elon Musk, plans to build a low-cost electric vehicle in Germany, which could impact the strategies of these startup rivals.
- Rivian Hikes Production Outlook, Expands Van Sales Beyond Amazon Investor's Business Daily
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- Rivian raises production goal again after strong Q3 earnings beat Electrek.co
- Rivian raises production guidance for the year, narrows quarterly loss MarketWatch
- Rivian raises full-year production forecast, shares rise Yahoo Finance
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