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Rivian is halting construction of its $5 billion Georgia plant to save money

Rivian announced that it's halting production of its $5 billion Georgia plant in order to save money.

The move will also allow Rivian to bring the R2 to market sooner, in the first half of 2026, while saving the company $2.25 billion in capital spending in the short term. Ramping up an automotive startup is no easy feat, though, especially in a market that's been tough on EVs of late — with even stalwart Tesla feeling the pinch. It doesn't help that startup rivals like Fisker are having serious cash flow issues, as it may spook consumers wary of untested EV brands.

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