Rivian, an electric car company, is like a race car trying to catch up to Tesla! It had a tough time last year, but things are looking better. Rivian made some big improvements, showing it can make money.
- Rivian's stock price went up and down a lot.
- It lost a lot of money in the past but made a profit this time.
- They reduced the cost of making their cars.
- Rivian is getting ready to release a new, cheaper car.
| Fact | Number |
|---|---|
| Rivian's current market value | $14 billion |
| Rivian's sales last year | $5 billion |
| Rivian's gross profit this quarter | $170 million |
| Cost reduction per vehicle | $31,000 |
