Rivian, the Amazon-backed electric car manufacturer, said it will be laying off about 6% of the company's workforce.
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Rivian employs around 14,000 employees and the layoffs would cut staffing by about 840 people.
In an email to workers, CEO R.J. Scaringe said that inflation, rising interest rates and increases in prices as the main factors for the layoffs.
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Rivian currently manufactures electric pickups, SUVs and also Amazon's electric delivery fleet from its plant just two hours south of Chicago.
The automaker is currently in the works to open a second manufacturing plant in Georgia which will employ 7,500 workers at full capacity.