Rivian shares fall after EV maker slashes production forecast, misses Q3 delivery expectations

Shares of Rivian Automotive dropped about 8% during premarket trading Friday after the electric vehicle startup delivered fewer vehicles in the third quarter than analysts had expected and lowered its annual production forecast for 2024.The company said the lower production target — down from 57,000 units to between 47,000 and 49,000 — was because of a "production disruption due to a shortage of a shared component" for its R1 vehicles and commercial van."This supply shortage impact began in Q3 of this year, ...