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Rivian’s Losses Nearly Triple to $1.7 Billion

The electric truck and SUV maker reaffirmed production target for 2022, forecasted deeper operating loss for the year

Electric-vehicle startups like Rivian, Lucid, Fisker, Canoo and Lordstown are having to adjust to the realities of making vehicles in a harsh economy. WSJ’s George Downs explains some of the challenges they’re facing and why some even risk going out of business. Photo composite: George Downs

Rivian Automotive Inc. reported its net loss in the second quarter nearly tripled to $1.7 billion, further putting pressure on the electric-vehicle startup to conserve cash and move quickly to fill customer orders.

The California-based SUV and truck maker said revenue for the quarter was about $364 million as it increased production and deliveries of its first three models. Rivian started manufacturing vehicles for the first time late last year.

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