Shulou(Shulou.com)11/24 Report--

CTOnews.com November 8 news, Rivian is now reporting third-quarter results. Unlike Lucid, which cut its production forecast, Rivian raised its production forecast, lowered its loss forecast and announced that it would no longer supply only to Amazon.

Revenue: $1.337 billion (CTOnews.com Note: currently about 9.733 billion yuan), up 149% year-on-year, analysts expect $1.31 billion

Net loss: $1.367 billion (currently about 9.952 billion yuan), down 21% from a year earlier

Negative gross margin: $477 million (currently about 3.473 billion yuan), compared with 917 million yuan in the same period last year

R & D cost: $529 million (currently about 3.851 billion yuan)

A loss of $1.44 per share; an adjusted loss of $1.19 per share in the third quarter, and analysts expect a loss of $1.32

Cash and cash equivalents $7.94 billion, analysts expect $8.37 billion

Rivian said revenue growth was mainly driven by higher delivery, with production of 16304 Q3 vehicles and delivery of 15564 vehicles, up 17 per cent and 23 per cent respectively from a month earlier.

In addition, the company is no longer limited to Amazon's exclusive supply agreement and may sell commercial electric vans to third parties; the company expects a full-year adjusted EBITDA loss of $4 billion, compared with an expected loss of $4.2 billion.

Rivian expects to produce 54000 vehicles for the whole year, compared with the company's original forecast of 52000. As of the third quarter, its cumulative production has reached 39691 vehicles. While raising its production forecast, Rivian reduced its loss forecast to $4 billion (currently about 29.12 billion yuan).

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