George Soros Backs Bet on Rivian as Ford Delivers Bad News

Rivian RIVNGet Rivian Automotive, Inc. Class A Report got scared but the electric vehicle maker made up for it well.

The young manufacturer of electric SUVs and pickups has just cleared some of the many doubts hanging over its short-term future.

The Irvine, Calif.-based company confirmed its production target of 25,000 vehicles in 2022, despite supply chain disruptions, chip shortages and soaring raw material prices. These problems have made it difficult to increase production rates.

“Based on our latest understanding of the supply chain environment, we reaffirm the annual guidance provided during our fourth quarter and fiscal year 2021 earnings call of 25,000 total units of production,” the company said in a letter to its shareholders.

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