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FILE - A Rivian sports-utility vehicle is seen on display in Austin, Texas, Feb. 22, 2023. Shares of Rivian are soaring before the opening bell on Wednesday, June 26, 2024, after Volkswagen has agreed to invest up to $5 billion in a new joint venture with the electric vehicle maker. (AP Photo/Eric Gay, File)

After multiple years of layoffs and negative profits, the electric vehicle maker Rivian reported promising earnings for 2025. The Irvine-based automaker is getting ready to release its cheapest vehicle yet.

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