Good news or bad? It all depends on how you choose to look at Rivian’s first-quarter sales and production results. Headlight.News explains.
rivian r2
Rivian Slashes 10% of Salaried Staff, Trims Production as EV Sales Growth Slows
Rivian announced it will slash both its corporate staff and production this year after reporting more than $1.5 billion in losses for the final three months of 2023. Even as it prepares to unveil an entirely new family of battery-electric vehicles, CEO RJ Scaringe warned the nascent automaker “is not immune” to the headwinds battering the U.S. EV market after four years of record growth. Separately, EV startup Lucid also forecast flattening sales after reporting worsening losses.
Rivian Teases Upcoming Reveal of New R2 Models
EV maker Rivian plans to roll out its second product line, the R2, on March 7. However, to whet the appetites of the company’s aficionados and others who are interested in a smaller, less expensive electric SUV, it offered a short teaser video of what’s coming. The...
Rivian Announces March 7 Reveal for Lower-Priced R2 Line
Rivian plans to take a step closer to becoming a full-line automaker next month, the automaker confirming it will reveal its R2 line on March 7. Smaller than the existing R1T pickup and R1S SUV, the R2 models also will be more affordable, officials last year indicating they could start around $40,000. Get the details at Headlight.News.
Rivian Poaches Top Apple Exec, Other Talent, Despite Ongoing Problems
The New Year got off to a rough start for Rivian, the start-up slammed by investors nervous about slowing growth in EV sales. But the market is taking notice of the news that Rivian has poached DJ Novotny, the vice president of hardware engineering away from Apple. The move comes as the tech giant reportedly again delayed – by as much as four years – its secretive Apple Car program. More from Headlight.News.