By Akash Sriram(Reuters) -Rivian shareholders will search particulars on the corporate’s upcoming fashions and progress in slicing prices at an investor day occasion on Thursday, two days after the US electrical car maker introduced a $5 billion funding from Volkswagen.The JV, which can give VW entry to Rivian’s electrical structure and software program, is a “vote of confidence” within the American automaker’s prospects because it appears to provide and promote inexpensive R2 and R3 crossovers to compete with Tesla’s bestselling Mannequin Y SUV.Amazon.com-backed Rivian nonetheless misplaced about $39,000 per car bought within the first quarter, however analysts count on the corporate to put up its first quarterly gross revenue within the fourth quarter.Rivian halted manufacturing for 3 weeks in April to implement cost-saving measures. Reuters reported final week the corporate has retooled its manufacturing course of, leading to a 35% discount in the price of supplies for vans and financial savings of “related magnitude” for its different strains.”Rivian might be sharing extra in regards to the R2 and R3 fashions, in addition to particulars on the cope with Volkswagen,” stated Michael Shlisky, analyst at D.A. Davidson. “I’m positive monetary particulars might be mentioned, however they might wait till subsequent week to share Q2 gross sales figures and steerage updates.”Demand for electrical autos has faltered amid excessive borrowing prices, and as consumers flip to cheaper gasoline-electric hybrid autos.Rivian expects to provide between 9,100 and 9,300 models within the second quarter and hand over between 13,000 and 13,300 autos to prospects within the April-June interval, it stated in a presentation for the investor day.Wall Avenue had anticipated quarterly deliveries of 10,282 models and manufacturing of 9,369 autos, when the corporate studies quarterly figures on July 2, based on analysts polled by Seen Alpha.Shares dropped about 2% in premarket buying and selling on Thursday.Even Tesla is struggling and is predicted to report its first drop in annual gross sales this 12 months. It has slashed costs and is providing incentives to promote extra autos.Amongst EV startups, Rivian is greatest positioned to outlive weak demand, because of the funding from VW. A few of its friends akin to Fisker have filed for chapter.Rivian had practically $6 billion of money and money equivalents on the finish of the March quarter.To save lots of money, Rivian plans to make the brand new fashions at its present Illinois facility and paused investments in a beforehand introduced plant in Georgia.Rivian’s inventory has misplaced greater than a 3rd of its worth this 12 months, even after its best-ever one-day acquire of 23% on Wednesday, partly as a result of firm sticking to its manufacturing forecast of 57,000 for the 12 months – roughly the identical as 2023.(Reporting by Akash Sriram in Bengaluru; Modifying by Sayantani Ghosh and Saumyadeb Chakrabarty)