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Rivian SUV

Rivian SUV

 

Irvine electric vehicle maker Rivian Automotive Inc. (Nasdaq: RIVN) reported a total of 1,015 vehicles produced by the end of 2021, with 920 vehicles delivered by that date. The company’s goal was 1,200 units for the year. 

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The rapid-growing automaker experienced a recent hit with a drop in shares after Amazon.com Inc., a major stakeholder and customer, announced the purchase of electric delivery vans from the multinational automotive manufacturer Stellantis NV on Jan. 5. 

 

According to a report from Bloomberg, the company’s stock fell 5.3% to $77.16 a share at 5:40 p.m. in New York after-hours trading, below its IPO price of $78. Through today’s close, Rivian’s shares had fallen 21% this year.