Rivian Faces Revenue Shortfall Due to Supplier Issues

The electric vehicle maker revises production forecasts amid a component shortage impacting its latest models.

Rivian's third-quarter revenue fell to $874 million, missing analysts' expectations by over 12%.
A shortage of copper windings from supplier Essex Furukawa hindered production of Rivian's new Enduro motors.
The company has adjusted its annual vehicle production forecast to between 47,000 and 49,000 units.
Rivian's upcoming R2 model, expected in 2026, aims to be a more affordable SUV starting at $45,000.
Despite current challenges, Rivian anticipates achieving its first-ever modest profit in the fourth quarter.