Shares of electric-vehicle startup Rivian Automotive Inc. are trading near all-time lows ahead of the company’s quarterly earnings update, expected after the close Wednesday.
The Irvine, Calif.-based auto manufacturer, led by Chief Executive Officer RJ Scaringe, was among a handful of EV-focused startups that went public last year with highflying valuations, tapping Wall Street’s zeal for the auto industry’s transition to electrics. But this year has proved challenging for the young company, which has struggled to increase production of its first two models, the R1T pickup and R1S sport-utility vehicle. Both went on sale last fall.
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