Rivian is settling $250 million lawsuit to focus on next year’s R2 EV

Electric vehicle startup Rivian announced on Thursday that it has settled a lawsuit with some of its investors. The company continues to deny allegations of making “materially untrue” statements during its inial public offering but says it agreed to pay $250 million to clear itself of distractions as it focuses on building its next EV, the mass-market R2, which is due next year.

Rivian was first sued by a shareholder in 2022 over claims that…