Tesla supporter Ross Gerber says Elon Musk has "stepped aside" from CEO role, facing backlash for controversial comments on social media.
Rivian News & Breaking Stories
Rivian is seeing growing demand for its electric vehicles, but investors remain cautious due to market competition and financial challenges.
Rivian's announcement of $1.5 billion in convertible notes has caused concern among shareholders, as it implies a continuing cash burn and lack of future revenue. The company also reported a net loss of around $720 million for the fourth quarter. Rivian stock traded down by about 20%.
Rivian Stock Plunges Amidst Strong Quarter, Heightened Wall Street Ambivalence Towards EV Manufacturer
Rivian's stock drops despite better-than-expected quarterly results, analysts cautious about the company's future and stock direction.
Amazon's shares surged nearly 8% after the company reported a net profit of $6.7 billion in Q2, compared to a loss of $2 billion last year. The company's revenue increased 11% to $134.4 billion.
Small EV manufacturer Rivian struggles financially and faces tough competition.
What news can we find under Rivian News Section?
An Insight into Rivian's Latest Headways
Rivian, have you heard of it? If not, well then let me tell you about this game-changer. Introduced as a cutting-edge contender in the burgeoning sector of electric vehicles (EV), Rivian is proving itself to be one helluva maverick and here’s why.
On first glance, Rivian might come off like any other automotive startup that promises battery-powered dreams. However, dig a bit deeper and whoa! Rivian isn’t your standard run-of-the mill rookie! The company leapfrogged many by delivering its R1T pickup truck models - innovatively constructed EVs designed for both comfort and wilderness adventures - before many industry stalwarts could even step foot into the market.
"A new kid on the block causing ripples?" You ask. Yes indeed! Unlike existing EV producers focused largely on SUVs or sedans for urban landscapes, these guys went all out daringly towards rough-and-tough lifestyle pickups. Pretty amazing wouldn't you agree?
Moreover, keep your eyes peeled folks because there's more under 'Rivian'. Remember Amazon’s pledge to go net-zero carbon by 2040? Well guess what? It seems Jeff Bezos put real money where his mouth is; he turned straight to our maverick-Rivian for help! Now we've got ourselves those dashing custom-made delivery vans with complete zero-emission capabilities sporting Amazon Prime logos. That's how far-reaching their promise was!
To sum up such action-packed buzz around one name –Rivians–in just a few paragraphs isn't exactly easy peasy but we managed it all right here didn't we? One thing’s sure: This bold venture has certainly set fascinating precedents making us anticipate every next news update they dish out!