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Rivian Automotive Inc. has told employees that production of 62,000 electric vehicles is possible this year, according to people familiar with the matter, an increase from the production target it told investors on Feb. 28.

Rivian Automotive Inc. tumbled the most in nine months after the electric vehicle maker’s production plans for this year fell short of Wall Street’s expectations.

Rivian Automotive Inc. is reducing its headcount by 6%, but sparing assembly line workers at its sole operational plant in Normal, Ill., from the cutbacks.

Rivian Automotive Inc. is shelving plans to jointly build electric vans in Europe with Mercedes-Benz AG, aborting a deal signed just three months ago to share costs and quickly scale up production.

At least a dozen employees at Rivian Automotive Inc. have accused the electric vehicle maker of safety violations at its Illinois plant, according to complaints filed with federal regulators.

Rivian Automotive Inc. shares rose in early trading after the automaker reported progress in ramping up production and reaffirmed its goal to build 25,000 electric vehicles this year.

Mercedes-Benz AG and Rivian Automotive Inc. plan to jointly manufacture electric vans in Europe as both companies try to share the rising costs of churning out battery-powered vehicles.

Rivian Automotive Inc. eliminated the least expensive trim of its R1T electric pickup truck, the company confirmed via email, effectively raising the price of its entry-level model.

Rivian Automotive Inc. posted quarterly sales above Wall Street’s expectations and reaffirmed its delivery forecast, but the electric vehicle maker trimmed its full-year earnings expectations as it continues to grapple with supply chain snags, high costs and economic volatility.

Even a breakthrough U.S. climate bill designed to encourage sales of electric cars has failed to revive investor interest in Rivian Automotive Inc., as the risk-hungry traders who catapulted its shares to dizzying heights last year shun companies for whom profitability is still years away.