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Amazon-backed Rivian's shares fall 9% after it recalls all its EVs
short by Ashley Paul / on Monday, 10 October, 2022
Amazon-backed EV-maker Rivian on Friday recalled nearly all its 13,000 vehicles due to a possible loose fastener that could cause the driver to lose steering control. Following the recall, which sparked concerns that the EV-maker may not meet its 2023 production target, Rivian's shares fell about 9% on Monday. Rivian had cut its 2022 production target by half in March.
read more at Reuters