EV Maker Rivian To Halt Construction of $5 Billion Georgia Plant

KEY TAKEAWAYSRivian Automotive shares are rising in premarket trading Friday as it pauses construction of 5billionGeorgiafactorytocutcostsandsaysitexpectssavingsexceeding5 billion Georgia factory to cut costs and says it expects savings exceeding 2.25 billion.The company will now shift production of its R2 mid-sized SUVs to its existing facility in Illinois.Rivian joins other EV makers like Ford and Tesla in facing a slowdown in EV sales and increased competition. Rivian Automotive (RIVN) shares are rising in premarket trading Friday after the electric vehicle (EV) st ...

Rivian Automotive-EV Maker Rivian To Halt Construction of $5 Billion Georgia Plant - Reportify