Aug 9 Reuters Rivian Automotive on Tuesday raised its fullyear production forecast, and its chief executive said the electric vehicle maker has enough money to last it through 2025 as it keeps a lid on costs.

Shares in Rivian, which initially rose nearly 3 after results were published, were up 1 in choppy extended trading. The stock has soared nearly 80 in the past three months.

The Amazonbacked company, like other EV rivals has been burning through cash to ramp up production and keep up with market leader Tesla, which has slashed prices.

Rivian, though, has fared better than smaller firms as demand for its pickup trucks and sportutility vehicles has risen despite high borrowing costs for consumers.

The competition and a tight funding environment led two EV firms Lordstown Motors and Proterra  to file for bankruptcies in June and this week, respectively.

In an interview with Reuters, Rivian CEO RJ Scaringe said his company was in a far stronger financial position.

The cash balance that we have today takes us through 2025, Scaringe said. We will be very thoughtful and intentional on how we secure additional capital to support the growth of the R2 program, he added, referring to the company39;s upcoming lineup of smaller, cheaper cars.

Rivian39;s cash balance fell by nearly 2 billion in the second quarter to 9.26 billion.

After struggling to ramp up production because of a shortage of parts such as power semiconductors, Rivian has moved to building inhouse Enduro…