Electric-vehicle maker Rivian says it has delayed construction of its previously announced $5-billion manufacturing campus in Stanton Springs, Ga. The EV-only producer now plans to start making its upcoming R2 SUVs at an existing plant in Normal, Ill., but says it still plans to build the Georgia facility.
The announcement of the construction pause came after Rivian shared its annual financial results last month, revealing a $5.4-billion net loss over the year. CEO R. J. Scaringe told investors that the company is focused on cost efficiency and long-term growth.