Actionable Stock Market Trading Newswire. Built for Traders, by Traders.
All news is property of their respective owners.

Amazon-Backed Rivian Defers Production Over Supply Chain Concerns: Bloomberg

Amazon.com Inc (NASDAQ:AMZN) backed electric pickup maker Rivian Automotive Inc postponed production of its debut vehicle due to component supply crisis, Bloomberg…
byAnusuya Lahiri
July 16, 2021
1 minute read
Total
0
Shares
0
0
0
0
0
0
  • Amazon.com Inc (NASDAQ:AMZN) backed electric pickup maker Rivian Automotive Inc postponed production of its debut vehicle due to component supply crisis, Bloomberg reports.
  • The production was supposed to begin in September. It also deferred the timeline for its second planned model, an electric sports-utility vehicle, from August until an unspecified time in the fall.
  • The pandemic affected everything from facility construction to equipment installation to vehicle component supply (mainly semiconductors), CEO R.J. Scaringe said.
  • Scaringe also acknowledged the complexities of launching three vehicle lines in one go.
  • It also has a deal with Amazon to build 100,000 electric delivery vans.
  • Price action: AMZN shares traded lower by 1.26% at $3,585.37 on the last check Friday.
  • Photo by Company
 
Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0
Share 0
Related Posts