Surprising no one who’s been following the auto industry, Rivian announced it will pause plans to build a large manufacturing facility in Georgia. The move comes as demand for all-electric vehicles like Rivian’s truck and SUV has cooled considerably.
Pausing a major factory project reflects the financial pressures facing EV makers amid softening demand. The decision illustrates how the once-frenzied electric market has forced even ambitious companies to recalibrate their plans.