This partnership and this deal secures the capital for us to ensure that we can't only take Rivian through the launch of R2 at Normal, but secures the launch of and growth of R2 in our Georgia facility and through (to being) cash flow positive for us as a business, said Rivian CEO R.J. Scaringe.
EV sales in the United States and the European Union are under siege as people stay with gasoline-powered vehicles.
Rivian recently said it would produce between 47,000 and 49,000 vehicles this year, below its previous plan. It blamed part of its supply chain.
EV growth in the U.S. market has slowed. In some parts of Europe, sales are actually falling, including a large dip in Germany throughout the year.
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