A Rivian R1S electric vehicle (EV) at a dealership and service center in San Francisco, California, United States, Tuesday, June 3, 2025.
David Paul Morris | Bloomberg | Getty Images
DETROIT – Rivian Automobile reportedly plans to lay off more than 600 people as the all-electric vehicle maker faces growing challenges in the market.
The Wall Street Journal, which first reported on the plans, said the layoffs would affect about 4 percent of the company’s employees. Rivian had just under 15,000 employees at the end of last year.
A source close to the plans confirmed the layoffs to CNBC and said additional details are expected to be shared with employees on Thursday.
Rivian and other electric vehicle makers are increasingly facing a tougher market than in recent years, due to changing regulations under the Trump administration, including the elimination of a $7,500 federal incentive for purchasing an electric vehicle.
This is breaking news. Please update for more details.
