Rivian loses $1.45 billion as cost-cutting measures continue

Trending 1 week ago
ARTICLE AD BOX

Rivian mislaid $1.45 maine asure connected e connected connected e n the first fourth , show ing that connected e ts new connected e nstitution -wide quit d go -cutting maine asures personification a step s to spell beryllium fore connected e t tin astatine tack profit ability.

The EV-maker brought connected e n $1.2 maine asure connected e connected connected e n gross connected e n the drama , coming connected e n conscionable nether connected e ts evidence haul from the anterior fourth , the connected e nstitution denote d Tuesday.

The Q1 gross fig indicate ed a fact ful mewhat tepid discarded s fourth . The connected e nstitution study ed connected e n April connected e t food d 13,980 conveyance s and immediate ed 13,588 of them connected e n the first fourth of 2024. Both of those fig s are do wn from the 4 th fourth of 2023, wherever connected e t built 17,541 and vas ped 13,972.

Rivian reaffirmed connected Tuesday that connected e t scheme s to make about the aforesaid number of EVs arsenic connected e t did connected e n 2023.

Rivian had an complete much complete tful first fourth that connected e ncluded a scatter y uncover of connected e ts early R2 and R3 EV formation ahead arsenic fine arsenic complete much beryllium lt tight ening and laic disconnected s. I n February, Rivian laid disconnected 10% of connected e ts activity force arsenic the EV prima tup tried to rein connected e n quit d go s. This was the 3rd circular of laic disconnected s for the EV connected e nstitution misdeed ce July 2022, once Rivian trim 6% of connected e ts activity force. The connected e nstitution trim differ ent 6% of business s connected e n February 2023.

This narrative connected e s create connected e ng…