FILE PHOTO: R.J. Scaringe, Rivian's 35-year-old CEO, introduces his company's R1T all-electric pickup truck and all-electric R1S SUV at Los Angeles Auto Show in Los Angeles, California, U.S. November 27, 2018. REUTERS/Mike Blake
DETROIT (Reuters) - Electric vehicle startups that promised to disrupt the automotive industry by using a software- and technology-heavy approach are now scrambling to cut costs amid the type of industry slowdown that has bedeviled Detroit automakers over the years.
To remain a player in an increasingly competitive business as incumbent automakers introduce their own EVs, startups like Rivian Automotive Inc and Arrival SA will need to tighten their belts and in some cases reinvent themselves, industry officials and analysts said.
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