Rivian, the buzzy electric vehicle company backed by Ford and Amazon, reported a net loss of $1.59 billion in the first quarter of 2022 based on $95 million in revenue. The company said it delivered 1,227 vehicles to customers during the past three months, bringing its total number of deliveries to 2,148. <\/p>\n

Rivian said it now has over 90,000 reservations for its R1T and R1S electric vehicles, up from 83,000 as of its last update in March. The company says that as of May 9th, it has produced approximately 5,000 vehicles, including its electric truck, SUV, and delivery van for Amazon. <\/p>\n

The company released its first-quarter earnings after a particularly bad week, with its stock dropping to all-time lows on the news that one of its prominent investors, Ford, was selling about 8 percent of its shares in Rivian. The company\u2019s stock price was down over 78 percent since the start of the year. <\/p>\n