Like other automakers, GM was buoyed by steady demand and a rebound in fourth-quarter production even as higher financing costs flash a warning sign for 2023.

Once worth more than $1 trillion, Tesla lost more than 65% in market value in a tumultuous 2022.

The South Korean carmaker, which makes the popular Ioniq 5 and EV6 electric cars, said it would reach its targets in part by optimizing its production processes, logistics and sales by region.

In 2022 alone, companies announced more than $73 billion in planned projects — more than three times the previous record, set in 2021.

The world’s No. 1 automaker produced 833,104 vehicles last month, an increase of 1.5% from a year earlier.

Companies must incorporate supply chains into their strategies not only as an opportunity to cut costs, but also as a competitive differentiator.

Manufacturers at the start of their modernization journey have the most to gain from upgrades to their data management and automation processes.

Imagine an individual sitting on their living room couch and wearing VR goggles, not to play a video game but to carry out a day’s work of production.

The company said it plans to stay on course with its expansion, and that the technology is safe for the road.

This isn’t the first time Rivian has had a partnership with an established carmaker fall apart. Plans to build EVs with Ford Motor Co. were abandoned in November 2021.