Rivian has laid off about 200 employees as the electric vehicle maker prepares for a U.S. economy with fewer incentives to go green.

The electric truck and sport-utility vehicle manufacturer is preparing for a challenging year in which it plans to launch a more affordable model even as it gets more expensive to buy an EV.

A spokesperson at the company said that the layoffs are equivalent to about 1.5% of its total staff of nearly 15,000. The Wall Street Journal first reported the layoffs.

Rivian is among the many car companies bracing for the changes in federal tax credits.

Under President Trump’s Big Beautiful Bill, the $7,500 tax credit, which some buyers receive for purchasing EVs, is set to expire at the end of this month. The credit of up to $4,000 for used EVs also will end.

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