Rivian reports first drop in quarterly revenue since IPO, shows loss of $1.1 billion
Due to the shortage of a part used in the drive unit, Rivian last month slashed its full-year production forecast to between 47,000 and 49,000 vehicles, from its earlier projection of 57,000. The electric pickup and SUV maker is headquartered in Irvine, California, and it has a vehicle development and testing facility in Plymouth, west of Detroit.