Rivian, Lucid focus on cost cutting after deep Q3 losses

Lucid headquarters with Air sedans on display outside — Lucid reported record third-quarter sales of 2,781 Air sedans, on display at Lucid headquarters in Newark, Calif. (LAURENCE ILIFF)

November 08, 2024 07:17 PM

Electric vehicle startups Rivian Automotive and Lucid Motors are focused on cutting production costs after losing money on every vehicle delivered in the third quarter and posting deep financial losses.

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