Shares in Amazon-backed electric vehicle maker Rivian slid late on Thursday after the company warned supply chain problems would halve its production capability to 25,000 units this year.
Rivian told investors the supply chain would be a “fundamental limiting factor” and predicted its production potential had dropped from what could have been 50,000 vehicles in 2022.
The company, founded in 2009, has produced 1,410 vehicles from the start of the year until March 8. Rivian has 83,000 pre-orders for its pick-up and SUV models.
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