Bengaluru — Rivian Automotive reported a sharp fall in second-quarter deliveries on Wednesday, as demand for its electric vehicles takes a hit from stiff competition and tariff-driven economic uncertainty.
Trade tariffs imposed by US President Donald Trump have led to a surge in manufacturing costs for the sector, with carmakers scrambling to reorganise supply chains to mitigate the hit to their businesses.
High interest rates are also holding back some buyers, while many are taking to cheaper hybrid- and gasoline-powered cars to avoid pure-electric vehicles due to their higher sticker prices and upkeep costs.
Rivian delivered 10,661 vehicles in the quarter ended June 30, a fall of 22.7% from the same quarter last year, but in line with Visible Alpha estimates. Reuters
