"Shares of Rivian Automotive surged 6.22% on Tuesday, recouping from a five-day loss, but still down 11.70% year-to-date amid intense competition."
"Rivian aims to achieve profitability by 2027, driven by cost reductions and increased production with improved operational efficiencies in the coming years."
Rivian Automotive shares rose by 6.22% amid midday trading, marking a 5.92% gain over five days. Despite the recent uptick, Rivian faces significant challenges in 2025 with an overall year-to-date loss of -11.70%. The company's IPO in November 2021 generated an influx of funds, yet it has struggled significantly since, with shares down -91% from their peak. Rivian plans to reduce material costs by 45% with a new platform expected by 2026, aiming for profitability by 2027, in light of increasing competition from established players like Tesla.
Read at 24/7 Wall St.
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