Rivian said on Wednesday it would cut its workforce by 10 percent – and forecast it would fail to hit delivery targets again in 2024.
It has been hurt by downtime for factory upgrades and slowing demand for electric vehicles due to high interest rates.
Rivian said it expects to produce 57,000 vehicles in 2024, well below estimates of 81,700 units, according to eight analysts polled by Visible Alpha.
