Rivian Lost $1.7 Billion in the Second Quarter

Rivian was once viewed as “the next Tesla,” an electric-vehicle maker poised to grow rapidly and unsettle century-old giants of the auto industry like Ford Motor, General Motors and Volkswagen. It planned to make an electric pickup and sport utility vehicle — models that would set it apart from the minimalist electric cars that Tesla produces.

The company gained billions of dollars in backing from investors including Ford and Amazon, which announced it intended to buy 100,000 electric delivery vans from Rivian.

Rivian’s initial public offering was the largest of 2021, and within a few days its stock price soared. For a time, the company’s market value was greater than that of Ford and General Motors combined.

But difficulty in sourcing critical computer chips and manufacturing troubles at its plant in Normal, Ill., kept production far below what the company had hoped for. It has also struggled to build delivery vans for Amazon. Rivian’s stock price plummeted, and investors remain concerned about the company’s prospects.

Now, as production is climbing, it faces a tougher competitive landscape. Ford has started making an electric pickup, the F-150 Lightning, which is likely to pass Rivian in sales by the end of the year. Ford, Volkswagen, Hyundai and several others have ramped up sales of electric S.U.V.s, and G.M. has said it will start selling an electric version of its Chevrolet Silverado pickup and a pair of electric S.U.V.s next year.

Buyers of some of Rivian’s vehicles are also expected to soon lose access to a federal tax credit under the climate bill that the House is expected to approve on Friday; the Senate passed it on Sunday. Under the bill, purchases of vans, S.U.V.s and pickups that sell for more than $80,000 will not qualify for tax credits. The credits will also not be available to individuals or couples who earn more than $150,000 or $300,000 a year.

Rivian said last month that it was laying off about 6 percent of its 11,500 employees. “To fully realize our potential, our strategy must support our sustainable growth as we ramp towards profitability,” Mr. Scaringe said in a letter to employees. “We need to be able to continue to grow and scale without additional financing in this macro environment.”

Recreation.gov, the National Park Booking App, Leaves Users Feeling Lost in the Woods

The general public finds the system “very complicated,” stated Linda Devlin, govt director of the Allegheny Nationwide Forest Guests Bureau, one of many co-signers of the U.S. Journey letter. “In the event that they need to hire a cabin at Pink Bridge on the Allegheny Nationwide Forest, they should undergo a number of pages to first discover the Allegheny Nationwide Forest, then the proper campground, then the cabins. It’s not a user-friendly system.”

Variations of a reservation system have existed on-line for many years, as parks have tried to stop site visitors and overcrowding. In 2018, the consulting firm Booz Allen Hamilton took over administration of the web reserving, spurring hope for enhancements, together with real-time updates and a extra usable interface. The brand new model of Recreation.gov was a step up from the earlier mannequin, however was unwell ready over the previous two years to deal with the main uptick of pandemic-driven customers. It didn’t assist alleviate the confusion brought on by altering necessities from the parks as they tried to deal with pandemic restrictions and record-breaking crowds.

As a frequent traveler to nationwide parks, Kelsey Falkowski believes {that a} reservation system is necessary in serving to to stop overcrowding. Mr. Falkowski, a highschool social research instructor from Vernon, N.J., has been touring to nationwide parks together with his brother and sister for the previous six years, normally visiting two or three parks per journey. He has not encountered main points utilizing Recreation.gov.

“It actually comes all the way down to analysis,” he stated. “We begin planning a few 12 months prematurely, and my brother will put collectively a 50-page itinerary for a visit. We’ll go on Fb pages, Instagram accounts for the nationwide parks, simply to ensure we’re not lacking something.”

Along with a high-speed web connection, accessing and reserving on recreation.gov wants a stage of laptop literacy that not all vacationers could have (talking of tech, problems with campsite-snatching bots and third-party websites have plagued recreation.gov for years).

Final December, months into her seek for campsites, Ms. Prado was capable of ebook one campsite for 3 nights in Glacier, a far shorter interval than she hoped to spend within the park. As for the remaining, she determined she must play it by ear.