Shares of the American Electrological Rivian Automotive company, which is called Tesla’s competitor, collapsed by 3.94 percent. This is evidenced by trading data. The cost of securities dropped to $ 102.87 per piece.
The reason for the fall in the quotations was the decision of the company to postpone the production of an electric pickup and sports SUV with large battery blocks until 2023, clarifies Reuters. As the head of the company Robert Sketch explained, the decision is substantiated by global chains with supply chains, as well as restrictions due to pandemic and difficulties in the labor market.
True Rivian put 386 of 652 built cars, including a pickup and an SUV. In total, R1T pickups and the R1S SUV in the USA and Canada, about 71 thousand orders were made.
In November, Rivian entered the IPO, by the middle of the month, the company’s capitalization reached $ 153 billion. Thus, the company entered the top three expensive automakers of the world, praying for its competitors Tesla and Toyota. However, a few weeks later, Rivian shares collapsed the minimum 88.4 dollars per piece.