Truckmaker

Rivian Automotive Inc. emerged as a darling of investors — a brand with promise of bringing the “cool” factor to the once-red-hot market for electric vehicles.But the Irvine-based company hit the brakes Wednesday, announcing a 10% cut to its workforce and lower production expectations. The news sent its stock plummeting. The 25% drop in stock price that it notched Thursday was its worst day in its history.It’s all part of a larger reckoning for EV companies, which now face falling demand amid a shrinking pool of wealthy…

Truckmaker Iveco Group said that it has planned to restart bus production in Italy after more than a decade, taking advantage of funds from the EU-funded Recovery Plan to develop a fleet of low emission public transport vehicles. The group, which separated at the beginning of this year from former parent CNH Industrial, said its bus producing unit would apply for access to a so-called Development Contract with Italy's Ministry of Economic Development, as part of the country's National Recovery and Resilience Plan (PNRR).…