**Rivian** reveals cost-saving shift in production location, reaffirms modest profit forecast in 2024
Laguna Beach, California – Electric vehicle manufacturer Rivian reported a mixed first-quarter financial performance, with revenue slightly exceeding expectations but a higher-than-expected loss per share. Despite the quarterly results, Rivian anticipates cost savings from relocating R2 production to its plant in Normal, Illinois, and reducing its capital expenditure projections. The company also restated its full-year loss forecast and remains optimistic about achieving a “modest gross profit” by the fourth quarter of this year. A highlight …