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Rivian electric pickup trucks sit in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California.
Justin Sullivan | Getty Images
Electric vehicle maker Rivian Automotive on Wednesday reaffirmed its 25,000-vehicle production target for 2022, but said it plans to spend less to do it as the company reported third-quarter revenue that fell short of Wall Street’s expectations.
Rivian cut its guidance for 2022 capital expenditures: It now expects its full-year capital expenditures to total about $1.75 billion, down from the $2 billion it guided to after the second quarter, as it shifts some planned spending to next year.
The company still expects its full-year…
Source cnbc.com
