Dark
Light
Today: October 12, 2024
February 12, 2024
1 min read

Rivian Automotive ditches Barclays, tech lacks to dodge EV chill.

Rivian Automotive has been downgraded to “Equal-Weight” by Barclays due to concerns over the company’s ability to withstand the current downturn in the electric vehicle (EV) market. The analysts noted that while Rivian has a great product, its technology alone is not enough to overcome the challenges of the EV market, which is currently experiencing a slowdown in demand. Barclays also highlighted the ongoing need for capital raises at Rivian and warned that weak demand could potentially impact the company’s ability to reach its target of reaching gross margin profitability in 2024.

Previous Story

Join us at EmTech Digital Europe in London and download

Next Story

Google Gemini: AI-powered chatbot, taking Google to the next level.

Latest from Blog

Portugal: At the Forefront of Submarine Cable Innovation

TLDR: Portugal is at the forefront of submarine cable technology, showcasing innovation in global connectivity. The 2Africa and Google’s Nuvem submarine cable systems are set to revolutionize Portugal’s digital infrastructure. In an
Go toTop