Rivian Cost Cuts Help Pare Loss as EV Maker Readies Next SUV

Rivian Automotive Inc. reported a smaller-than-expected loss in a sign of progress as the electric-vehicle maker cuts costs and staff ahead of plans to begin deliveries of a new midsize SUV next year.

The third-quarter adjusted loss was 65 cents a share, the company said in a letter to shareholders. That’s better than the 71-cent average deficit expected by analysts. Rivian slashed automotive cost of revenue by nearly $19,000 on a per-vehicle basis year over year, according to the letter.