An electric pick-up truck is pictured at the Rivian Automotive Inc facility in Costa Mesa, California, U.S.,November 1, 2023.
Smaller rival Lucid (LCID.O) cut its production forecast on Tuesday "to prudently align with deliveries", sending its shares down 3%.
Last month, it reported third-quarter deliveries above market expectations.
The company reported a net loss of $1.37 billion, compared with a loss of $1.72 billion a year earlier.
Its third-quarter production fell nearly 30% to 1,550 vehicles.
Persons:
Mike Blake, Tesla, Elon Musk, I'm, RJ Scaringe, Scaringe, Rivian, Alec Lucas, Akash Sriram, Zaheer Kachwala, Abhirup Roy, Krishna Chandra
Organizations:
Rivian Automotive Inc, REUTERS, Rivian, Reuters, Global, Saudi Arabia's Public Investment Fund, Amazon, Wall, Thomson
Locations:
Costa Mesa , California, U.S, Bengaluru, San Francisco