* Factory retooling to save 35% in material cost for vans * CEO sees similar savings for R1 SUVs and pickups * CEO highlights improved manufacturing efficiency * Cost cuts to calm investor nerves - analyst By Abhirup Roy NORMAL, Illinois, June 24 (Reuters) - Electric-vehicle maker Rivian's drive to cut costs and turn its first profit has removed over...

OTTAWA (Reuters) -Canada is considering whether to impose import tariffs on Chinese-made electric vehicles and will seek the public's opinion about the idea, Deputy Prime Minister Chrystia Freeland said on Monday. Freeland said the domestic auto sector faced unfair competition from what she called China's state-directed policy of overcapacity, and that Ottawa would open a 30-day public consultation period on...

NORMAL, Illinois (Reuters) - Electric-vehicle maker Rivian's drive to cut costs and turn its first profit has removed over 100 steps from the battery-making process, 52 pieces of equipment from the body shop and over 500 parts from the design of its flagship SUVs and pickups. The result of Rivian retooling its manufacturing process is a 35% reduction in cost...

Meta, Inc. shares are trading higher following a report that the company and Apple ( AAPL ) have discussed an AI partnership. The Details: The WSJ report suggests that Meta has explored integrating its generative AI Platform into Apple Intelligence, its new AI system for iPhones. Apple ( AAPL ) has already announced plans to integrate ChatGPT. However, the company...