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Rivian loses $1.45 billion as cost-cutting measures continue
Rivian lost $1.45 billion in the first quarter, showing that its recent company-wide cost-cutting measures have a ways to go before it can approach
Rivian lost $1.45 billion in the first quarter, showing that its recent company-wide cost-cutting measures have a ways to go before it can approach profitability. The EV-maker brought in $1.2 billion in revenue in the period, coming in just under its record haul from the prior quarter, the company announced Tuesday. Rivian had an eventful first quarter that included a splashy reveal of its future R2 and R3 EV lineup as well as more belt tightening and layoffs.
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