Rivian Announces Shift Reduction at Illinois Plant Amid Efficiency Improvements
The electric vehicle maker Rivian is set to cut the third shift at its Normal, Illinois, plant, aiming to enhance production efficiency and manage costs.
- Rivian plans to discontinue the third shift at its Normal, Illinois, plant starting next month, attributing the decision to increased efficiency and a subdued production outlook for FY24.
- The company will offer all hourly employees positions on the remaining two shifts, expecting to increase overall production capacity by about 30% upon reopening with two shifts on April 28.
- Rivian anticipates producing 57,000 vehicles this year, maintaining its production rate from last year despite high-interest rates and economic uncertainties.
- The EV maker reported a total revenue of $1.3 billion for the fourth quarter of 2023 and a net loss of $1.52 billion, with a significant per-vehicle loss despite improvements from the previous year.
- In addition to the shift reduction, Rivian has laid off about 100 workers at its Normal, Illinois, factory as part of ongoing cost-cutting measures, aiming for profitability.
Benzinga 
Electrek 