Steve Grzanich has the business news of the day with the Wintrust Business Minute.

The company that makes electric vehicles in Illinois is still losing money despite cost cutting and increased sales. Rivian Automotive had a net loss of nearly $1.5 billion in the second quarter, nearly 21% higher than the loss at this time last year. Second-quarter revenue rose by about 3% and sales rose 9%. Company execs say the company is on the path to profitability even though it’s currently burning through cash. According to it’s latest earnings report, Rivian is losing about $32,700 per vehicle it delivers. It’s R1 vehicle, manufactured in downstate Normal, sells for about $70,000. 

Also, the law firm Barnes & Thornburg is expanding its downtown Chicago footprint. Listen for more below: