George Soros backs Rivian bet as Ford delivers bad news

George Soros backs Rivian bet as Ford delivers bad news

Rivian (RIVN) – Get the Class A report from Rivian Automotive, Inc was scared but the electric vehicle manufacturer made it well.

The young manufacturer of electric SUVs and pickups has just cleared up some of the many doubts that hang over its short-term future.

California-based company Irvine has confirmed its production target of 25,000 vehicles in 2022, despite supply chain disruptions, chip shortages and rising commodity prices. These problems have made it difficult to increase production rates.

“Based on the most recent understanding of the supply chain environment, we confirm the annual guidance provided during the fourth quarter and fiscal year 2021, 25,000 total production units,” the company said in a letter to its shareholders.

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