According to a person familiar with the matter, the Reuters- Rivian Automotive Inc is moving parts of its manufacturing engineering team to Illinois to speed up production.
The reorganization, which is expected to be announced soon, would mean those working on manufacturing engineering would have to relocate to central Illinois or its headquarters in Irvine, California, according to the report.
In terms of ramping production, it is helpful to have the manufacturing and engineering teams closer to our facilities in Normal as well as our headquarters in Irvine, a Rivian spokeswoman told Reuters, but declined to confirm whether the company was relocating teams.
Rivian, which makes R 1 T electric pickup trucks and R 1 S SUVs at its factory in Normal, Illinois, forecast production in February of 2023 below analysts' expectations, as it grapples with lingering supply chain snarls.
The electric-vehicle maker lost money on every vehicle it builds, and missed its annual production target of 25,000 units last year.
The investors have been unnerved by the weakened demand for EVs due to interest rate hikes and fears of a looming recession.