Rivian, Lucid and other EV startups scramble to shore up cash and reassure Wall Street

Rivian, Lucid, and Nikola, once thriving EV startups, are now struggling to stabilize their finances amid a challenging market, marked by slow EV adoption and intense competition. The companies are implementing various cost-cutting measures, including job cuts and production adjustments, in hopes of achieving profitability. Despite these efforts, their stock values are near all-time lows, reflecting ongoing financial pressures and investor skepticism about their future viability.