Rivian Automotive Inc - Ordinary Shares - Class A

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4:59:32 PM EDT: $64.27 -0.34 (-0.53%)
Other Pre-Announcement

Rivian Automotive Reports Quarterly Loss Per Share Of $12.21

Published: 12/16/2021 21:36 GMT
Rivian Automotive Inc - Ordinary Shares - Class A (RIVN) - Partnering With the State of Georgia and Plan to Begin Construction on Second Manufacturing Facility in the Summer of 2022.
Generated Total Revenue of $1 Million for Quarter Ended Sept 30.
Net Loss for Q3 2021 Was $1,233 Million.
Qtrly Adjusted Net Loss of $776 Million Versus $289 Million.
Expect Starting Production in Georgia Facility in 2024.
Rivian Automotive - Facility to Be Based East of Atlanta in Morgan and Walton Counties and is Projected to Eventually Employ More Than 7,500 Employees.
Expect Georgia Facility to Have the Capacity to Produce Up to 400,000 Vehicles Annually.
Rivian Automotive - Delivered First Consumer Vehicles, R1t Pickup Truck and R1s Sport Utility Vehicle in September and December, Respectively.
Rivian Automotive - by the End of December, Plan to Have Over 60 Mobile Service Vans in Service and 8 Service Centers.
Qtrly Loss per Share $12.21.
Q3 Earnings per Share View $-5.52, Revenue View $1.0 Million -- Refinitiv Ibes Data (analyst estimates).
Rivian Automotive - As of December 15, 2021, Have Produced 652 R1 Vehicles and Delivered 386 of Those.
Plan to Deliver First Saleable Edvs to Amazon This Month.
Rivian Automotive - in Early 2022, Plan to Complete Certification of the Edv 500.
Rivian - Our Major Goal for 2021 is Certifying the R1t, R1s and Edv 700 for Sale and Starting Deliveries Through Direct-to-customer Operations.
Rivian Automotive - Expect to Be a Few Hundred Vehicles Short of Our 2021 Production Target of 1,200 Vehicles.