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Rivian to cut salaried jobs, forecasts flat production for 2024

Posted on AllSides February 21st, 2024
From The Left

Rivian CEO R.J. Scaringe said he remains committed to the scale of the Georgia project, which Rivian has said will employ 7,500, despite concerns over EV demand. “The way we’ve approached our Georgia facility is to build out the plant across two phases,” Scaringe said in a Wednesday evening call with investors. The factory will have the capability to produce 400,000 EVs, and Scaringe said each phase should represent roughly half that capacity. As a startup in a highly competitive industry, Rivian has yet to turn a profit. Rivian reported...

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