Photo by Nilay Patel / The Verge
Rivian, the buzzy electric vehicle company backed by Ford and Amazon, reported a net loss of $1.71 billion in the second quarter of 2022 based on $364 million in revenue. It’s a sign that Rivian’s business is picking up speed, albeit slowly compared to the previous quarter in which Rivian reported a net loss of $1.59 billion based on $95 million in revenue.
The earnings report was a disappointing sign from the EV maker that was founded on a promise to upend the auto industry with beautifully designed, emissions-free, adventure-themed trucks and SUVs but has run into some speed bumps along the way.
The earnings report comes on the heels of a positive production update in which Rivian said it made 4,401 vehicles during the three-month…