Per Reuters Amazon doesn’t take EDV deliveries through the This autumn to concentrate on the vacation season:By Zaheer KachwalaJan 2 (Reuters) – Rivian Automotive missed market estimates for fourth-quarter deliveries as robust competitors and excessive rates of interest weighed on demand for its electrical automobiles, sending the corporate’s shares down almost 10% on Tuesday.The corporate handed over 13,972 automobiles within the final three months of 2023, 10% decrease than the earlier quarter, and under estimates of 14,430, per 13 analysts polled by Seen Alpha.Excessive rates of interest in the US have raised month-to-month funds for electrical automobiles, making them much less inexpensive and prompting a worth struggle by market chief Tesla.Amazon.com, Rivian’s greatest backer and a big buyer, additionally doesn’t take deliveries through the fourth quarter because it focuses on the vacation season within the interval.”It is seemingly that vacation schedules slowed down deliveries vs manufacturing,” mentioned Vitaly Golomb, a Rivian investor and an electrical and autonomous mobility skilled.Rivian produced 17,541 automobiles within the final three months of 2023, up 7.5% from the prior quarter. That took the annual manufacturing to 57,232 items, beating its forecast of 54,000.
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