EV maker Rivian has announced a lay off as the company prepares for the end of federal EV tax credits and a challenging economic landscape. The company beat Elon Musk’s Tesla in bringing an EV pickup truck to the market, but has yet to prove it can succeed without massive taxpayer help.

The LA Times reports that Rivian, the electric truck and SUV manufacturer based in Irvine, California, has recently announced the layoff of about 200 employees, equivalent to 1.5 percent of its total workforce of nearly 15,000. The company’s decision comes as it braces for the expiration of federal EV tax credits at the end of the month, a move that is expected to dampen demand for electric vehicles across the industry.

Under President Trump’s Big Beautiful Bill, the $7,500 tax credit for new EVs a

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