Rivian just cut their capital expenditure guidance by $250 million, bringing their expected spend down to a range of $1.7 billion to $1.8 billion. They maintained their delivery target of 65k to 70k vehicles, so production doesn't seem to be taking a hit. Management chalked the savings up to project efficiencies and timing, which likely points to their recent staff cuts. They are basically trying to manage costs right now while still trying to fund their AI and autonomous driving development and scale up production for their upcoming R2 SUV.