{"id":1671545,"date":"2022-10-04T08:50:17","date_gmt":"2022-10-04T12:50:17","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1671545"},"modified":"2022-10-04T08:50:53","modified_gmt":"2022-10-04T12:50:53","slug":"rivian-shares-jump-on-backing-2022-production-target","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rivian-shares-jump-on-backing-2022-production-target\/","title":{"rendered":"Rivian shares jump on backing 2022 production target"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Frivian-shares-jump-on-backing-2022-production-target%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1671545&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>(Reuters) \u2013     Shares of Rivian Automotive Inc rose nearly 8% in premarket trading on Tuesday after the company delivered a record number of vehicles in the third quarter and backed its target of producing 25,000 vehicles this year.<\/p>\n<p>Rivian\u2019s positive update came after bigger rival Tesla Inc blamed logistical hurdles for missing market expectations for the number of cars it handed over to customers in the third quarter. <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>Tesla shares closed down 8.6% on Monday, wiping out more than $71 billion from the company\u2019s market value in one session, or over $5 billion more than what Rivian has lost this year. <\/p>\n<p>With a total of 14,317 vehicles produced so far this year, Rivian has to make more than 10,500 units in the last three months of the year to meet its production target.<\/p>\n<p>\u201cWe view the reiterated FY22 production target as the most important component of the release, providing incremental comfort in the company\u2019s ability to increasingly navigate the challenging supply chain backdrop,\u201d Truist Securities analyst Jordan Levy said.<\/p>\n<p>Irvine, California-based Rivian halved its annual production target from 50,000 units in March, as it battled supply chain snarls.<\/p>\n<p>Last week, a court rejected a joint proposal to secure local incentives for Rivian\u2019s $5-billion manufacturing plant in Georgia, where the company proposes to produce 400,000 vehicles annually.<\/p>\n<p>Rivian currently makes the R1T pickup truck, the R1S sports utility vehicle and delivery vans for Amazon at its factory in Normal, Illinois.<\/p>\n<p> (Reporting by Savyata Mishra in Bengaluru; Additional reporting by Eva Mathews and Nivedita Balu; Editing by Anil D\u2019Silva)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/rivian-shares-jump-on\/attachment\/startup-rivian-automotives-electric-vehicle-factory-in-normal\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI930OQ-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI930OQ-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) \u2013 Shares of Rivian Automotive Inc rose nearly 8% in premarket trading on Tuesday after the company delivered a record number of vehicles in the third quarter and backed<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1671545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1671545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1671545"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1671545\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1671545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1671545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1671545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}