EV maker Rivian Automotive Inc. reported a quarterly loss of nearly $2.5 billion on Thursday hurt by escalating raw material costs and supply chain woes.
The company reported a net loss of $2.46 billion in the fourth quarter compared with a loss of $354 million from a year earlier. It posted revenue of $54 million, well below investors' expectations of $60 million.
Rivian shares tumbled 13 percent to $35.86 in aftermarket trading following the announcement.