Rivian will cut about 4.5% of its staff, impacting over 600 workers as demand for EVs softens.

The US-based EV maker had over 14,800 employees at the end of 2024.

The decision comes ahead of the federal EV tax credit expiration in September, which analysts expect will slow industry sales.

Rivian has also been working to reduce costs as it prepares to launch its new R2 SUV, which is expected to start at around US$45,000.

🔗 Source: Axios