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Thursday is upon us as we talk about another EV-only carmaker announcing layoffs. We also talk about Ford’s new model year for the F150 Lightning, as well as a potential standard-setter for employee AI training.

Show Notes with links:

• It seems Tesla isn’t the only non-Dealership model EV maker laying off staff as Rivian is making its second round of job cuts this year, impacting about 150 support and back-office roles to align with market demands.
  • This decision follows a 10% reduction in salaried staff earlier, targeting product and commercial EV teams, as the company faces high interest rates and production scaling issues.
  • Rivian aims to achieve gross margin positivity by year-end, despite current economic headwinds and reduced consumer demand for EVs.
  • In an emailed statement, Rivian said, ““We continue to work to right-size the business and ensure alignment to our priorities. This was a difficult decision, but a necessary one to support our goal to be gross margin positive by the end of the year.”
  • Earlier this week, Tesla’s Elon Musk said on Twitter that laying off 10% of their staff was an action that needs to be done every five years or so to align the company for the next stage of growth
    
    
    
• As the model year cycle ticks another year forward, Ford is opening online orders for the 2024 model of the F150 Lightning, featuring new tech enhancements and reduced pricing.
  • Following a temporary stop-ship for quality checks Ford has shipments of the 2024 F-150 Lightning from its Rouge Electric Vehicle facility
  • The starting
  • The electric pickup starts at just over $54k for its Pro model and has also seen price reductions up to $5,500 on select trims, with the new Flash trim now starting at $67,995 featuring the highest range available at 320 miles
  • Enhanced features include convenience features like a charging display that estimates time to finish, a Vapor Heat Pump System for improved efficiency, and expanded access to Tesla’s Supercharger network.
    
    
    
• IKEA is potentially setting a new benchmark in employee development with a comprehensive AI literacy initiative aimed at equipping its workforce with essential skills to navigate the evolving AI landscape.
  • IKEA has launched AI literacy training targeting 3,000 co-workers and 500 leaders to foster a deep understanding of artificial intelligence within the organization.
  • The training includes courses like AI Fundamentals and specialized programs on Generative AI and Responsible AI and Algorithmic Training for Ethics.
  • IKEA introduces 'Hej Copilot', an AI tool developed with Microsoft, enhancing productivity by assisting employees with various tasks.
  • "Our vision is clear. It’s about enhancing the capabilities of co-workers through technology," states Parag Parekh, chief digital officer at IKEA Retail

Hosts: Paul J Daly and Kyle Mountsier

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