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Rivian Cuts Workforce By 10%, Doesn’t Expect To Sell More EVs This Year

Carscoops

The company expects to build 57,000 vehicles this year, the same number of EVs that it managed to produce throughout 2023. Rivian also projected an adjusted loss before interest, taxes, depreciation, and amortization of $2.7 According to Reuters , analysts had anticipated the brand to manufacture over 81,000 vehicles in 2023.

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Why are you in business anyway?

Canadian Auto Dealer

Why are you grinding it out every day, dealing with customer issues, employee matters and OEM demands? Things like over purchasing inventory, not collecting receivables (OEM, warranty and customer) and sheer over spending on headcount, advertising, IT and the like will deplete your cash flows very quickly. Wouldn’t that be great!