The company's presentation during investor day also teased five new models, with three vehicles under the "affordable mass market" category. LONG-TERM FINANCIAL TARGETS Demand for electric vehicles has faltered amid high borrowing costs, and as buyers turn to cheaper gasoline-electric hybrid vehicles. The slowdown has hit even market leader Tesla, which is expected to report its first drop in annual sales this year. EV makers including Tesla have been cutting prices, offering incentives and introducing lower-priced variants to boost sales. Rivian, however, is on stronger footing than most EV startups.