Shares of Rivian Automotive Inc were down 7.3% on Monday after the electric car maker recalled nearly all of its vehicles, fueling investor concerns that the company may miss its 2023 production target.

Rivian’s market value fell more than $2 billion in a single day to $31.1 billion, while automakers such as Ford and General Motors were valued at $45.67 billion and $47.08 billion, respectively.

On Friday, Amazon-backed Rivian recalled about 13,000 vehicles for loose fasteners that could cause drivers to lose steering control.

The company started selling electric vehicles in the third quarter of last year and has delivered 13,198 vehicles so far.

While the widespread recall could damage the brand and cause lingering credibility issues for future production, Wedbush Securities said it doesn’t think the recall will affect Rivian’s production or delivery goals for the year. Shares of Rivian are down 67.3% this year after the prospect of production cuts and an uncertain macroeconomic environment sparked a stock sell-off.

According to Visible Alpha, Wall Street expects Rivian to produce 23,590 vehicles this year. Last week, a Georgia District Court rejected a joint proposal by the state’s Department of Economic Development and the company to provide local incentives for its projects in the state. The local development department said in May that the company would receive $1.5 billion in incentives from the state.