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Rivian Automotive reported a smaller-than-expected loss in a sign of progress as the EV maker cuts costs and staff ahead of plans to begin deliveries of a new midsize SUV next year.

Glid Technologies has introduced Raden, an autonomous hybrid-electric vehicle that can operate on both roads and rails, designed to improve the first mile of freight logistics.

Investors are warming to Beta Technologies' initial public offering as the electric aircraft developer and its peers look to distance themselves from unhappy associations with the 2021 blank-check company boom and bust.

The total includes 3,400 workers that were furloughed over the summer at its Factory Zero plant in Detroit, where the electric Chevrolet Silverado, GMC Sierra and Hummer EVs are made.

For the past 18 months, Tesla said manufacturing would start by the end of 2025 and ramp up to capacity through 2026. The firm has a history of missing deadlines, including with the Semi.

Rivian Automotive agreed to pay $250 million to settle an investor lawsuit against the electric vehicle maker, saying it’s eager to put the legal wrangling behind it. 

Rivian in August cited tariffs and policy changes when it backed away from a key financial goal, saying it would break even on a gross profit basis after earlier predicting a modest profit.

Also, the micromobility startup spun out of Rivian Automotive, has unveiled its first consumer product: an electric bike that will cost up to $4,500.

EVs are the primary way the company can bring in the cash required for its AI investments. And that business is facing slowing demand.

The automaker is stopping the assembly line that made BrightDrop vans in Ontario. Its future was in doubt after GM announced in April it would halt production for months because of weak demand.