Neal E. Boudette – Page 8

Rivian Lost $1.7 Billion in the Second Quarter

The maker of electric pickup trucks, vans and sport-utility vehicles increased its production forecast for the year, but only slightly.

Demand for electric vehicles has been far stronger than the supply of battery materials like lithium, nickel and cobalt.

The automaker reaffirmed its forecast for earnings for the full year.

The automaker said it had reached deals to acquire more battery packs in its push to produce 600,000 electric vehicles a year by the end of 2023.

The automaker sold 483,688 vehicles in the United States in the second quarter.

Regulators said 1 percent of the vehicles recalled could have the defect. The products affected include 1.7 million Escape S.U.V.s.

NHTSA will take a broad look at whether the electric carmaker’s driver-assistance system can increase the risk of crashes.

The automaker, which owns Jeep and Ram, is seeking to catch up in a global race to build electric cars and trucks.

The General Motors chief says efficiencies, innovations and learning from mistakes will allow her company to become a leader in electric vehicles.

The automaker reported an 11 percent jump in revenue for the first three months of the year compared with a year earlier.