Rivian shares surge after the E.V. maker affirms its 2022 production goal.

Amazon has ordered 100,000 delivery vans, but Revian is reluctant to say how many have been shipped. On Wednesday, he simply said he was “increasing production and delivery.” On a call with analysts, Mr. Scarring said he expects to build about a third of the 25,000 vehicles in the 2022 production estimate.

In many ways, the ravine symbolizes a sharp reversal in the stock market this year.

In November, investors rallied in its initial public offering, in which the company raised $ 13.5 billion, and its shares rose briefly, giving Revion a share market value that was almost as large as the combined value of Ford Motor and General Motors.

But the stock fell this year after the company lowered its production target. The 80 per cent drop in shares of Rivian is much higher than the 31 per cent drop in Tesla’s share during the same period and the 38 per cent drop for Ford, which is introducing its own electric truck.

Rivian manufactures vehicles in general, in sickness, and plans another factory in Georgia. Large sums of cash are required to build and operate the assembly line, which is why new car companies may face severe financial difficulties if production delays and sales decline. Even Tesla, which sells more electric cars than any other company, sometimes finds itself under-funded.

In the first quarter, Rivian used 1.45 billion in cash to run its business and invest in new facilities and equipment, much more than the $ 800 million it used in the first quarter of 2021. The company had $ 16.4 billion in cash on its balance sheet. At the end of the first quarter, down from 18.1 billion at the end of last year.

The decline in the Revion stock led to a decline in the value of shares held by its largest shareholders. Amazon has an 18 percent stake in 3.2 billion, up from $ 16.8 billion at the beginning of the year. Ford, another initial investor, sold some of its shares on Monday, with the remaining કિંમત 1.9 billion valued. It will be valued at અંતે 9.7 billion at the end of last year.

Rivian said he had received more than 10,000 orders for his truck and his SUV since the price hike in March. The average value of those orders was over $ 93,000, the company added.

But because Rivian’s vehicles are sold at relatively high prices, analysts wondered how much demand there would be if inflation continued to lift household spending power. Said Mr. Nelson.

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