Rivian CEO Says Its Chip-Shortage Problems Will Ease This Year
Electric-vehicle startup
Rivian Automotive Inc.
RIVN -9.61%
maintained its production forecast for 2022, with executives saying the supply-chain problems that have stifled its factory output in recent months are expected to ease later this year. Rivian, which reported quarterly results after the market close Wednesday, said revenue for the first quarter was $95 million, below Wall Street expectations. The company’s net loss nearly quadrupled to $1.6 billion for the…