Rivian Automotive is preparing to lay off employees as it confronts a slowdown in electric vehicle demand following the expiration of a key US federal tax credit that had supported sales, as per a Reuters report.
Electric-vehicle maker Rivian Automotive is set to lay off more than 600 people, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
The electric vehicle industry is struggling to overcome a less favorable political climate. Among the various players, Rivian remains a cheaper alternative to giants like Tesla.
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