Rivian disclosed a reduction of its workforce by 10% and projected an annual electric vehicle (EV) production number that fell significantly short of expectations. The lowered forecast is attributed to necessary factory upgrades and a deceleration in EV demand influenced by rising interest rates. Post-market trading saw Rivian shares decline by approximately 17% following the […]
Rivian has made a significant recruitment coup by hiring DJ Novotney, a distinguished Apple veteran. Novotney, who played a pivotal role in developing Apple’s home devices and the initial efforts for an electric vehicle, will join Rivian as the Senior Vice President of Vehicle Programs. This move highlights another major departure from Apple, who recently […]
Rivian is apparently set to roll out a range of new subscription-based services for its fleet, including the R1S and RCV models. This update was shared by Reddit user u/ddd1330 on Wednesday, who is involved in acquiring multiple vehicles from Rivian for their company. According to the information provided, these additional services will require a […]
Rivian experienced a nearly 10% drop in its share value in early trading on Tuesday, following a report of increased vehicle production but a decline in deliveries for the fourth quarter. The electric vehicle (EV) manufacturer delivered 13,972 vehicles from October through December, marking a 10.2% decrease from the third quarter of 2023. However, these […]
AT&T and Rivian have entered into an agreement, marking a significant step in AT&T’s sustainability efforts. Under this partnership, AT&T will integrate Rivian electric vehicles (EVs) into its commercial fleet starting in early 2024. This pilot program is part of AT&T’s broader initiative to improve safety, reduce operational costs, and diminish its carbon footprint. The […]
In the third quarter of 2023, Rivian reported significant advancements in its production capabilities and financial performance, marking its strongest quarterly production rate to date with over 65,000 units annually. The company’s financial results have positively reflected these improvements, with a notable increase in production guidance to 54,000 units for the year. The EV manufacturer […]
Amazon has deployed more than 10,000 custom electric delivery vans across the United States as part of its commitment to achieve net-zero carbon emissions by 2040. The company co-founded The Climate Pledge in 2019 and subsequently partnered with Rivian to design and produce 100,000 electric delivery vehicles by 2030. Amazon began rolling out its electric […]
Shares of Rivian dropped over 22% on Thursday following the company’s unexpected announcement to offer $1.5 billion in convertible notes. The news came despite Rivian’s third-quarter revenue estimates aligning with Wall Street expectations. In a regulatory filing on Wednesday, Rivian disclosed its third-quarter revenue is expected to be between $1.29 billion and $1.33 billion. These […]
Rivian Automotive announced on Monday that it achieved record electric vehicle (EV) deliveries for the third quarter of 2023, surpassing Wall Street expectations. The company delivered 15,564 vehicles during the quarter, marking a 23% increase from the second quarter of 2023. Analysts surveyed by FactSet had projected around 14,000 deliveries for the period. All 16,304 […]
In an update on Thursday, electric vehicle manufacturer Rivian has revealed the EPA-estimated range for its Dual-Motor and Performance Dual-Motor R1T models. The company took to X to announce that these models offer the best range in their lineup, boasting up to 410 miles with the Max pack and 21-inch wheels. According to the tweet, […]
In a significant move supporting automotive repair rights, both Tesla and Rivian have endorsed an agreement that advocates for the inclusion of crucial telematics data. This commitment, backed by leading automakers and independent repair shops, signifies a substantial step towards transparency and consumer rights in the automotive industry. Both electric vehicle (EV) manufacturers expressed their […]
Rivian has launched the 2023.30.0 software update for its R1S and R1T models, offering users a slew of new features and enhancements designed to improve their driving experience. Here’s a comprehensive overview of what’s new in this software update made available on August 16, 2023: 1. One-Touch Garage Door Opener: For those constantly on the […]
Electric automaker Rivian has reported a narrower-than-expected loss for its second quarter of 2023. In a positive turn, the company has revised its production expectations for 2023, now aiming to manufacture about 52,000 vehicles. This ambitious target is over twice the number of vehicles it produced in 2022 and an upgrade from its previous forecast […]
Almost a dozen former Tesla employees who left to join Rivian are headed to trial, following a ruling over claims that they breached Tesla’s confidentiality agreements. The employees were accused of stealing proprietary information before joining Rivian. In a tentative decision on Wednesday, a California Superior Court judge denied the employees’ request for summary adjudication, […]
Rivian unveiled its production and delivery figures for the second quarter of 2023 on Monday. The company produced a total of 13,992 vehicles at its manufacturing plant in Normal, Illinois, and accomplished deliveries of 12,640 vehicles in the same timeframe. The current figures align with Rivian’s expectations, reinforcing the company’s confidence in meeting its annual […]
