Electric vehicle manufacturer Rivian Automotive, Inc. (NASDAQ:RIVN) shares are trading lower after the company lowered its annual production guidance due to a supply shortage of shared components on the R1 and RCV platforms.
The company produced 13,157 vehicles at its manufacturing facility in Normal, Illinois, and delivered 10,018 cars during the same period.
Rivian is experiencing a supply shortage that began in the third quarter of this year and has intensified in recent weeks.
