Rivian raises full-year production forecast, shares rise

(Reuters) -Rivian Automotive reported better-than-expected third-quarter revenue on Tuesday and raised its production forecast for the full year by 2,000 vehicles to 54,000 units.

Shares of Rivian, which closed 1.4% higher, rose more than 3% in volatile after-hours trading.

However, Rivian’s smaller rival Lucid cut its production forecast on Tuesday “to prudently align with deliveries”, sending its shares down 3%. It now expects to produce 8,000–8,500 vehicles this year, down from its…