Rivian’s and Lucid Motors’ shares have plummeted after the companies released disappointing earnings reports, highlighting their struggles to sell electric vehicles. This comes as Tesla faces similar challenges in meeting sales expectations.
Rivian, a leading electric vehicle manufacturer, reported lower-than-expected revenue and deliveries for Q4 2022. The company’s stock price fell significantly following the announcement. Lucid Motors, another prominent EV maker, also faced criticism after revealing weaker-than-anticipated financial results.
The decline of Rivian and Lucid shares serves as a reminder that even major players in the electric vehicle industry are facing difficulties in meeting sales targets. As Tesla faces similar challenges, investors and analysts are keeping a close eye on the company’s performance to gauge its ability to regain momentum in the highly competitive EV market.
Source: https://www.barrons.com/articles/rivian-stock-price-earnings-tesla-lucid-evs-ac2e14fa