Rivian’s Losses Nearly Triple to $1.7 Billion

Rivian Automotive Inc. reported its internet loss within the second quarter almost tripled to $1.7 billion, additional pressuring the electric-vehicle startup to preserve money and transfer rapidly to fill buyer orders.

The California-based SUV and truck maker mentioned income for the quarter was about $364 million because it elevated manufacturing and deliveries of its first three fashions. Rivian began manufacturing autos for the primary time late final 12 months.