"Rivian's CEO Delays Georgia Factory, Unveils New Affordable EV Models"
TL;DR Summary
Rivian, an electric vehicle company, has announced a delay in the construction of a new $5 billion factory in Georgia, citing a slowdown in electric vehicle sales. The company plans to produce two new models, with one being shifted to its existing plant in Illinois. This decision is aimed at preserving cash as Rivian works to produce and sell more affordable vehicles, as it has been losing billions of dollars for several years.
- Rivian Will Delay Construction of a $5 Billion Factory in Georgia The New York Times
- The Rivian R2 and R3 are Rivian’s smaller, more affordable off-road EVs CNN
- Rivian's CEO talks R2 and R3 launch, and why he has 'complete certainty' EVs will win The Verge
- Rivian shares surge as company reveals new EV models, $2.25 billion in cost savings CNBC
- Rivian surges as new launch R2 SUV attracts strong early orders Yahoo Finance
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