Rivian plans to make an additional 2,000 vehicles this year, while cutting the its full-year projection for its adjusted loss to $4bn.
The California carmaker said it would make 54,000 trucks and vans this year, rather than the 52,000 it forecast in August. It cited improvements in the supply chain and increased production of the motors it makes in-house.
It also said that diminishing costs meant it would record an $4bn adjusted loss, which excludes interest, taxes, depreciation and amortization. At the start of the year, the company expected a $4.3bn adjusted loss.
Rivian posted a $1.4bn net loss for the third quarter, compared with a net loss of $1.7bn a year earlier.
