EV maker Rivian Automotive Inc (NASDAQ:RIVN) has unenviably gained recognition for its ability to burn cash. Nevertheless, the company is gradually reducing losses and charting a path toward profitability.
The First Deliveries: In late 2021, Rivian embarked on its journey of delivering its first vehicles. Throughout the entire year, 920 vehicles were delivered, accompanied by a substantial loss of $2.46 billion. This translated to an astonishing loss of $2.68 million per vehicle delivered.
