{"id":1681416,"date":"2022-10-10T08:51:03","date_gmt":"2022-10-10T12:51:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1681416"},"modified":"2022-10-10T08:51:38","modified_gmt":"2022-10-10T12:51:38","slug":"rivian-shares-skid-after-ev-maker-recalls-nearly-all-vehicles","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rivian-shares-skid-after-ev-maker-recalls-nearly-all-vehicles\/","title":{"rendered":"Rivian shares skid after EV maker recalls nearly all vehicles"},"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\">20<\/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-skid-after-ev-maker-recalls-nearly-all-vehicles%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=1681416&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 fell 7% on Monday after the electric-vehicle maker recalled nearly all its vehicles, exacerbating investor concerns that the company may not be able to meet its annual production target.<\/p>\n<p>The Amazon.com Inc-backed firm on Friday recalled about 13,000 vehicles due to a possible loose fastener that could cause a driver to lose steering control.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>Rivian has so far delivered 13,198 vehicles since it started selling in the third quarter of last year. <\/p>\n<p>\u201cWe have greater concerns on 2023 production expectations,\u201d RBC Capital Markets said in a note on Monday. The addition of battery packs and motors as well as downtime required at the plant to ramp up capacity could derail Rivian\u2019s pace of production, it said.<\/p>\n<p>Rivian\u2019s shares have fallen 67.3% this year due to a selloff in equities driven by an uncertain macroeconomic environment and a production forecast cut.<\/p>\n<p>The company in March cut its annual production forecast in half to 25,000 due to sticky supply-chain issues.<\/p>\n<p>Wall Street expects Rivian to make 23,590 vehicles this year, according to Visible Alpha.<\/p>\n<p>A local court in Georgia, where Rivian is building its $5-billion manufacturing plant, last week rejected a joint proposal by the state\u2019s Department of Economic Development and the company to secure local incentives for its project in the state.<\/p>\n<p>The local development authority had said in May the company would gain incentives of $1.5 billion from the state.  <\/p>\n<p> (Reporting by Akash Sriram and Savyata Mishra in Bengaluru; Editing by Shinjini Ganguli)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/rivian-shares-skid-after\/attachment\/startup-rivian-automotives-electric-vehicle-factory-in-normal-2\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI990O0-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI990O0-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) \u2013 Shares of Rivian Automotive Inc fell 7% on Monday after the electric-vehicle maker recalled nearly all its vehicles, exacerbating investor concerns that the company may not be able<\/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-1681416","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\/1681416","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=1681416"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1681416\/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=1681416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1681416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1681416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}