EV-maker Rivian plans to lay off 10% staff

U.S. EV maker Rivian announced it will be laying off 10% of its workforce as concerns around slowing EV sales continue to challenge manufacturers  

Updated - February 22, 2024 04:50 pm IST

Published - February 22, 2024 04:16 pm IST

U.S. EV maker Rivian announced it will be laying off 10% of its workforce.

U.S. EV maker Rivian announced it will be laying off 10% of its workforce. | Photo Credit: AP

U.S.-based EV-maker Rivian said it plans to lay off 10% of its workforce as concerns over slower electric vehicle sales continue to challenge companies across the industry. Additionally, the company in its fourth-quarter earnings reports said that it will not be making any more vehicles this year than it did in 2023.  

Rivian made 57,232 vehicles in 2023, of which 50,122 were delivered to customers.

The announcement is expected to impact thousands of workers at the company’s Irvine plant which employs a combined strength of 16,700 salaried and hourly employees.

Rivian had earlier announced layoffs in 2022, and 2023. On both occasions, the company laid off 6% of its then workforce.

(For top technology news of the day, subscribe to our tech newsletter Today’s Cache)

The EV industry is facing a dip in sales with Tesla registering a drop of 10% in the number of vehicles registered in California, one of the most important markets for the electric carmaker.

American electric carmakers are facing heat from global rivals, including Chinese automakers. Earlier in January, Tesla CEO Elon Musk said Chinese automakers would “demolish” global rivals without trade barriers. The statement came after Warren Buffett-backed BYD - with its cheaper models and a more varied lineup -overtook Tesla as the world’s top-selling EV company last quarter, despite Tesla’s deep price cuts through 2023.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.