The electric vehicle business is poised to face a challenging period due to new policies from the Trump Administration that have removed incentives for new EV buyers. This policy change is expected to have significant impacts across the industry.
One of the biggest names in the electric vehicle sector is preparing to conduct a substantial round of layoffs. According to reports, at least 600 employees — approximately four percent of the company’s workforce — will be affected. Employees are anticipated to receive more information about the layoffs today, as reported by CNBC.
These layoffs come on the heels of the government eliminating the tax credit for EV buyers through a bill passed by the Trump Administration. Interestingly, this policy shift coincided with rival Tesla achieving a record number of vehicle deliveries, as many buyers rushed to secure their EV tax credits before the expiration of the incentive.
As the industry adjusts to these new regulations, the effects on both companies and consumers will be closely watched in the coming months.
https://www.shacknews.com/article/146486/rivian-layoffs-600-employees