Rivian Struggles, Loses $17 Billion

Electric Truck Maker's Losses Mount Despite Cost-Cutting Measures

Rivian, the electric truck maker, has lost a staggering $17 billion in the past three months alone, adding to its already hefty losses. In the first quarter of the year, Rivian reported a loss of $145 billion, raising concerns about the company's financial stability.

Production Woes and Wall Street Worries

Despite cost-cutting measures, Rivian is still struggling to ramp up production of its electric pickups. The company has stuck to its 2024 production forecast, which falls short of Wall Street's targets. Volkswagen, the German automaker, has invested up to $5 billion in Rivian, but auto industry experts say the company's financial woes are far from over.