The electric vehicle (EV) industry is poised to face significant challenges due to new policies introduced by the Trump Administration that eliminate incentives for new EV buyers.
As a result, one of the biggest names in the industry is preparing to conduct a substantial round of layoffs. Reports indicate that at least 600 employees, accounting for four percent of the company’s workforce, will be affected. According to CNBC, employees are expected to receive more information about the layoffs today.
These workforce reductions come shortly after the government discontinued a tax credit program for EV buyers, a move implemented through a bill passed by the Trump Administration. Interestingly, this decision coincided with rival automaker Tesla setting a record for vehicle deliveries, as many buyers rushed to secure their EV tax credits before the deadline expired.
The removal of these incentives is expected to create headwinds for the EV market, impacting both manufacturers and consumers alike.
https://www.shacknews.com/article/146486/rivian-layoffs-600-employees
