George Soros bets on Rivian while Ford breaks bad news

George Soros bets on Rivian while Ford breaks bad news

Rivian (RIVN) – Retrieve the Rivian Automotive, Inc. Class A report got scared, but the electric vehicle maker made up for it nicely.

The fledgling maker of electric SUVs and pickups has just cleared some of the many doubts surrounding its near-term future.

The Irvine, California-based company confirmed its production target of 25,000 vehicles in 2022, despite supply chain disruptions, chip shortages and rising commodity prices. These problems have made it difficult to increase production rates.

“Based on our latest understanding of the supply chain environment, we reiterate the full-year guidance we provided during our fourth quarter and fiscal 2021 earnings call for a total of 25,000 production units,” the company said in a letter to its shareholders.

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