EV maker Rivian to lay off 10% of staff to cut costs
The Q4 financial report has shown that despite producing and delivering twice as many EVs in 2023 as compared to 2022, the company still incurred a loss of $5.4 billion for the year.
It reported a net loss of $1.5 billion in Q4, a slight improvement over the $1.72 billion loss it reported in the same quarter of 2022. (Image credit: Reuters)