Locator: 49483EVS.
A month ago, the company did a smaller round of layoffs, affecting 1.5% of its workforce. It said the move was to reduce costs ahead of the launch of a more affordable sport-utility vehicle next year.
Rivian and other EV manufacturers are being hit hard by the pullback in policies that supported the adoption of electric vehicles. The end of a $7,500 federal tax credit for consumers buying EVs is expected to tank sales.
The policy changes have derailed the sales of compliance credits that have been an important source of profitability for Rivian and others. Rivian has said that the changes could result in an estimated $100 million in revenue being held up.
Rivian’s vehicle sales grew 32% to 13,201 vehicles in the third quarter, but the company narrowed its delivery guidance for the full year to 41,500 to 43,500 vehicles after previously forecasting as many as 46,000 deliveries. Rivian reports its full quarterly earnings on November 4, 2025.
