Elon Musk, CEO of Tesla, has expressed concern over Rivian's troubled financial performance, suggesting potential solutions to save the struggling EV maker from bankruptcy.
Shares of Rivian and Lucid hit new all-time lows on Thursday after reporting quarterly results that disappointed the Street and raised concerns that the pure-play EV makers are not evolving quickly enough, particularly with EV demand slipping.
NORMAL — Rivian Automotive Inc. plans to lay off part of its salaried workforce amid a quarterly loss and an increasingly competitive electric vehicle market.
Electric adventure vehicle maker Rivian is on deck to report fourth quarter results after the bell on Wednesday, as investors closely scrutinize production plans for the automaker for 2024 and whether Rivian is on track for profitability by the end of this year.
(Bloomberg) Rivian Automotive Inc. lost its claim to be Tesla Inc.’s most credible competitor long ago. Now, its ability to navigate an EV demand slowdown poses its biggest test.Most Read from BloombergLargest Covid Vaccine Study Yet Finds Links to Health ConditionsCapital One to Buy Discover for $35 Billion in Year's Biggest Deal Amazon Deserves to Be Called Out for Swindling UsersA $6 Trillion Wall of Cash Is Holding Firm as Fed Delays CutsYour 401(k) Will Be Gone Within a DecadeWith even a