Rivian Forecasts 57K Vehicle Production, Plans 10% Job Cuts; Lucid Expects 9K Vehicles in 2024, Reports Q4 Loss
Rivian announced a production forecast of 57,000 vehicles for FY 2024, below the expected 80,000, with a plan to cut 10% of its salaried workforce. The company also reported a wider-than-expected Q4 loss. Lucid reported a Q4 loss of $636 million and expects to produce only 9,000 vehicles in 2024.
Sources
TheStreet
Rivian and Lucid, two formerly-hyped EV makers, have largely disappointed markets over the past two years. https://t.co/gScbbcwEAJ
Ray YoungToday $RIVN closed at an all-time low of $10.07. What did I do? I sold out of companies I love to buy more shares. I remember buying in the $20’s wishing I learned about Rivian earlier. Now is the time to invest.
Electrek.co Rivian (RIVN) stock hits all-time low after double analyst downgrade, job cuts https://t.co/ZDI0OBwFif by @EVPeteJohnson
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