Core Insights - Rivian Automotive is planning to lay off employees due to a decline in electric vehicle demand following the expiration of a significant US federal tax credit that had previously bolstered sales [1] Company Summary - The company is facing challenges in maintaining sales momentum as the expiration of the tax credit has led to a slowdown in demand for electric vehicles [1] Industry Summary - The electric vehicle industry is experiencing a shift in demand dynamics, particularly influenced by changes in government incentives such as tax credits, which are critical for consumer purchasing decisions [1]