Friday, December 17, 2021 09:53:02 UTC

Rivian shares dropped over 10% to $97.94 after-hours, after reporting a $1.23B net loss. The drop came despite orders of its R1T vehicle surging to 71,000 this week.

Rivian, founded by CEO RJ Scaringe, is building an electric sport utility vehicle (SUV) and pickup truck on a "skateboard" platform that can support future vehicles or be adopted by other companies. These vehicles are designed for both on-road and off-road driving. An electric delivery van is also being built as part of a partnership with Amazon.(More)

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