Rivian has taken some hits of late. Most publicly, Rivian raised the prices of its models by 20%, drawing the ire of its customers almost instantly. Additionally, Rivian shares have fallen by a massive 60% just this year, down from a sky-high $179 a share after the electric truck brand's incredibly successful IPO. That huge drop was largely down to a huge production decrease in March this year, brought on when Rivian announced it had to halve its production forecast to just 25,000 units for 2022.
Rivian has struggled to meet demand because of the supply chain shortages we're all currently feeling the effects of. That was a large part of the production cut for models like the Rivian R1S discussed above. However, CEO RJ Scaringe says he can't get the chips he needs because of favoritism among semiconductor suppliers.