Rivian (RIVN) is planning to boost EV production by moving some of its engineers closer to its Illinois factory, according to the Wall Street Journal.
After producing 24,337 EVs last year, slightly missing its goal of 25,000, Rivian is not taking any chances this year.
Rivian CEO RJ Scaringe said 2022 was a “challenging year” as the young EV maker scaled production of four products, including the R1T electric pickup, the R1S SUV, and two versions of its electric van, at low volumes in a massive factory designed for 150,000-vehicle output when fully operational.
As a result, Rivian’s losses swelled to over $6.7 billion in 2022 as the young electric vehicle maker balanced increasing production and cutting costs to drive efficiency. The woes continued this year, with Rivian recalling over 12,700 EVs earlier this year due to airbag deployment…