Rivian

Ford to Sell Off 8 Million Shares from its Rivian Stake: Report

Ford Motor Co. is planning to sell 8 million shares out of its 12% stake in electric truck startup Rivian Automotive — reports CNBC. Ford will sell the shares through Goldman Sachs, sources told the publication. The veteran automaker currently owns a total of 102 million shares in Rivian. The shares will go on sale for […]
Rivian electric cars

Amazon Takes $7.6 Billion Hit on its Rivian Investment in Q1

After Ford announced a $3.1 billion loss on its 12% stake in electric vehicle automaker Rivian yesterday, Amazon has similarly announced a loss from the recent downfall of the carmaker’s stock price. During Amazon’s Q1 earnings on Thursday, the online retailer announced it took a $7.6 billion loss as a result of its $1.3 billion […]
Rivian electric cars

Rivian Delivers 1,227 Electric Cars in Q1 2022

Rivian announced on Tuesday it produced 2,553 electric vehicles for Q1 2022, while 1,227 cars were delivered, for the quarter ending March 31, 2022. These electric vehicles were produced at its factory in Normal, Illinois and according to Rivian’s Form 8-K filed with the SEC, it says “these figures are in line with the company’s […]
Rivian electric cars

Rivian Starts Hiring for Upcoming Atlanta Service Center

Rivian announced plans to hire “dozens of local workers” at an upcoming Atlanta service center, according to Biz Journals. The automaker will renovate a warehouse beside Atlanta Brewing Co. on Defoor Hills Road to outfit it with a mechanic shop, parts storage, a wash bay, and employee and customer areas, as detailed in a permit […]

Rivian Hires Former Magna Executive as Chief Operations Officer

After Rod Copes retired as the Chief Operations Officer of Rivian last year, the company has officially selected a replacement to fill the position. Rivian has hired new COO Frank Klein, who is the former President of Austrian automotive manufacturer Magna Steyr, a subsidiary of Canada automotive supplier Magna International, according to a press release. […]

Rivian to Switch to LFP Battery Cells for Entry Packs, Following Tesla

Rivian plans to change the types of electric vehicle (EV) battery cells it uses, the company said on Thursday in a Q4 2021 shareholder letter. Rivian is switching to lithium iron phosphate (LFP) battery cells for its standard vehicles, foregoing the use of nickel and cobalt and following in Tesla’s footsteps, according to CNBC. Beyond […]
Rivian electric cars

Rivian Reverses Price Increase on Existing Orders After Backlash

On Thursday, Rivian CEO RJ Scaringe released a press release in which the company apologises for the recent increase in their vehicles, and vows to honour preorder prices. “Earlier this week, we announced pricing increases that broke the trust we have worked to build with you,” the letter opens addressing the negative reaction online from […]

Rivian Customers Cancel Pre-Orders After Company Jacks Prices Up to 25%

Rivian today announced a slew of configuration updates for its R1T electric pickup truck and R1S electric SUV, accompanied by price hikes of up to 25% for both. Much to the chagrin of reservation holders, the price increases also apply to existing pre-orders and add-ons. Introducing our new Dual-Motor AWD configuration and our 260+ mile […]

Rivian Aims for 10% EV Market Share by 2030 as Production Ramps Up: CEO

Rivian Automotive CEO R.J. Scaringe said on Thursday that the electric vehicle (EV) startup is “making progress” with the ramp-up of production at its Normal, Illinois, assembly plant — reports Reuters. “We’re absolutely making progress,” he said of the company’s push to boost vehicle production while speaking at the Wolfe Research Global Auto, Auto Tech, and […]

Sandy Munro Goes Hands-On with Rivian R1T Truck, Chats with CEO [VIDEO]

In a recently published YouTube video, “Teardown Titan” Sandy Munro visits electric vehicle (EV) startup Rivian’s production facility in Normal, Illinois, to meet with company CEO RJ Scaringe and talk about the R1T and R1S, as well as what the future holds for the up-and-comer. Scaringe told Munro about how Rivian started and the ideology […]

Rivian’s Georgia Plant to Span 20 Million Square Feet, Shows Site Plans

Following a report last month detailing Rivian’s plans to construct a second, larger production facility east of Atlanta, Georgia, a new image has surfaced showing what the factory layout is expected to look like. Rivian’s upcoming factory in Georgia is set to be five times larger than the company’s Normal manufacturing facility at around 20 […]

Rivian COO Resigns During R1S, R1T Production Ramp-Up

Rivian COO Rod Copes officially stepped down on Monday, after being in the position since March 2020, and just as the company begins ramping up production of the R1S, according to the Wall Street Journal. A Rivian spokesperson confirmed to the WSJ Copes retired from the automaker back in December, and was planned ahead of […]