EV (electric vehicle) stocks are on the move today as third quarter earnings season approaches. Here are two big stories that have investors’ attention.
Rivian announces a big recall
Rivian (RIVN) shares are sliding today after the electric adventure truckmaker announced it would recall all of the vehicles it has produced thus far due to a safety issue.
The recall affects around 13,000 vehicles Rivian has delivered to customers. The safety concern at issue is a nut that attaches the front suspension arms to the steering knuckle assembly may not have been torqued tightly enough, which could lead it to fail.
Rivian says it’s recalling nearly all vehicles delivered to customers “out of an abundance of caution,” even though the issue was discovered only in seven trucks. Rivian said it is not aware of any injuries stemming from the issue.
“The safety of our customers will always be our top priority, and we are committed to fixing this issue on any affected vehicles as quickly as…