Shulou(Shulou.com)11/24 Report--

CTOnews.com, June 16 (Reuters)-Claire Mcdonough, chief financial officer of electric car maker Rivian, said yesterday that the company expects demand for its pickups and SUV to remain stable this year, despite high borrowing costs and fears of a recession.

Rivian Mcdonough, ▲ source, said at the Deutsche Bank auto conference on Thursday that Rivian had increased production of internal drives ahead of time. The California-based startup has been developing its own drives to reduce costs and reduce dependence on suppliers.

"We have certainly seen the broad impact of the macroeconomic environment in 2023, but from a demand point of view, we have seen a very stable demand environment in the overall operation this year," Mcdonough said. " He also stressed: "our top priority now is to increase production and reduce costs so that we can really start to reduce the level of expenses within the company."

Rivian decided to cut jobs by 6 per cent in February and maintained its annual production forecast of 50000 vehicles last month.

CTOnews.com previously reported that Rivan's first-quarter revenue reached $661 million (CTOnews.com Note: currently about 4.713 billion yuan), up 596% from a year earlier, with a net loss of $1.349 billion (currently about 9.618 billion yuan), narrowing year-on-year. The company is currently selling R1T electric pickups and R1S electric SUV.

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