Amid the price war started by Tesla and the difficult economic conditions, EV startups are likely the most affected. Although it doesn’t compete directly with Tesla, Rivian had to make the painful decision to cut jobs.

We knew what to expect when Tesla announced the aggressive price cuts in January. We’ve already analyzed the far-reaching implications of Tesla’s unusual decision and concluded that EV startups might be the most affected. Without a dependable revenue stream from other products, startups are forced to tap into their cash reserves. Their best hope is that these reserves wouldn’t dry out until the market conditions or their profitability improves.

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Rivian Slashes 6% Of Jobs To Keep Up With Tesla Price Cuts

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