Rivian Automotive Inc reported quarterly revenue below Wall Street estimates on Wednesday, as supply-chain snarls continue to limit the company's ability to produce electric vehicles that are in high demand.
A Rivian Automotive sign outside the electric truck maker's facility, in Plymouth, Michigan, U.S., July 15, 2022. REUTERS/Kevin Krolicki/File Photoreported quarterly revenue below Wall Street estimates on Wednesday, as supply-chain snarls continue to limit the company's ability to produce electric vehicles that are in high demand.
"We remain confident in our ability to fund operations with cash on hand through 2025," Rivian said in an SEC filing late on Wednesday. High price levels for raw materials such as lithium, nickel and copper, exacerbated by the Russian invasion of Ukraine, have been squeezing margins of automakers, affecting the bottom line.
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