Rivian built reserve of batteries ahead of tariffs, Bloomberg reports

Rivian Automotive (RIVN) built a reserve of electric-vehicle batteries from Asia ahead of President Trump’s tariffs, Ed Ludlow of Bloomberg reports, citing people familiar with the matter. Rivian directly acquired a supply of lithium iron phosphate cells from China’s Gotion High-Tech Co. late last year, ahead of the election, sources told Bloomberg. More recently, the company worked with cell supplier Samsung SDI to move a large amount of battery inventory to the U.S. from South Korea, the people added.