Wintrust Business Minute: Rivian sees production and delivery drop in first quarter

Wintrust Business Lunch

English - May 08, 2023 18:35 - ★★★★★ - 8 ratings
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Steve Grzanich has the business news of the day with the Wintrust Business Minute. Electric vehicle maker Rivian, with a plant in downstate Normal, saw production and delivery drop in the first quarter. The company delivered 7,946 vehicles compared to 8,054 in fourth-quarter 2022. Rivian reports quarterly earnings Tuesday and is expected to show a […]

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

Electric vehicle maker Rivian, with a plant in downstate Normal, saw production and delivery drop in the first quarter. The company delivered 7,946 vehicles compared to 8,054 in fourth-quarter 2022. Rivian reports quarterly earnings Tuesday and is expected to show a net loss. The company’s expected to ramp up production moving forward while cutting costs. The net loss is blamed on factory downtime while upgrading its commercial van assembly line.

Also, Deerfield-based Baxter International is selling its biopharma solutions business to two private equity firms.

https://serve.castfire.com/audio/4118580/4118580_2023-05-08-183920.64kmono.mp3