Yahoo Finance published this video item, entitled “Rivian raises production forecast to produce 54,000 cars , Lucid cuts production guidance to 8,000” – below is their description.
Rivian Automotive (RIVN) shares are trending higher after the electric vehicle maker raised it’s production outlook. Rivian now forecasts it will produce 54,000 vehicles this year, up from its previous estimate of 52,000. This comes after Rivian ended its exclusivity agreement with Amazon, opening up opportunities for new delivery partnerships.
Lucid Group (LCID) shares are trending lower after the electric car company lowered its 2023 production guidance to between 8,000 and 8,500 vehicles, down from 10,000 originally forecasted. This comes as Lucid missed third-quarter estimates amid slowing demand in the EV market.
Yahoo Finance’s Seana Smith and Brad Smith analyzed the challenges facing Rivian and the broader EV market, providing insights into how Rivian has adapted over the past few months.
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