Rivian is expected to sell about 43,000 EVs this year. Two years ago, Wall Street projected 2025 sales of 116,000 vehicles. Rivian isn’t expected to generate positive gross profits this year. Two years ago, analysts projected 2025 gross profits of $1.3 billion.

Rivian RIVN 1.32% is carrying out another round of layoffs affecting around 4.5% of its workforce as the electric-truck maker tries to conserve cash ahead of an expected drop in sales of electric vehi...