Price war brewing as Rivian set to announce record losses

EV start-up under all kinds of pressure amid robust competition

Already grappling with falling cash reserves and a weak economy, electric vehicle start-up Rivian (RIVN:NASDAQ) is now bracing for what may be an industry-wide price war.

Revenue for the three months to 31 December 2022, due on 28 February, are expected see rough $729 million sales, 28% higher than the previous quarter and up from $60.5 million a year ago, but analysts are projecting its biggest ever loss per share of $1.96. In September, Rivian had $13.3 billion in cash, down from over $18 billion a year earlier. [SF]