EV Price War Prompts Rivian To Cut 6% Of Staff | Carscoops carscoops
“We must focus our resources on ramp and our path to profitability,” wrote Scaringe in the email, in which he also apologized to his staff for the move. As the move is being made to help increase production, the company’s assembly factory in Normal, Illinois, will not be affected by the layoffs.
Rivian just missed its revised production target for 2022 of 25,000 vehicles, due largely to supply chain issues. Even so, the company continues to lose money on each new vehicle it builds and, according to analysts, is “bleeding cash” as it works to drive down production costs. As a result, it is likely trying to streamline production of the R1T
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