Electric vehicle manufacturer Rivian lowers full-year delivery guidance
Electric vehicle manufacturer Rivian (RIVN.US) announced on Thursday that it has lowered its electric vehicle delivery guidance for this year to between 41,500 and 43,500 units, down from a previous maximum expectation of 46,000 units, with the midpoint also slightly below analysts' estimate of 42,730 units.
Rivian had already reduced its full-year delivery target from the original 51,000 units back in May, and this latest cut reflects challenges in demand and growth after losing some consumer subsidies in the U.S. market.
As a result of the news, Rivian's stock price fell by about 3% in pre-market trading in New York
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