Soros joins Rivian as investor

Soros joins Rivian as investor

In November 2021, it had been revealed that Amazon had increased its stake in Rivian to about 20 percent. On November 16, 2021, Rivian's stock had peaked at $179.46. Since then, the price has fallen 67 percent.

Reasons for the share price move include the announcement that Rivian had missed its 2021 production targets. Further reports also suggested that assembly lines were idle in early January to make improvements to production. In the meantime, Rivian is probably building 200 R1Ts per week, but wants and needs to scale production further in 2021.