Tag: Rivian

April 19, 2024

Electric vehicle upstart Rivian, which recently put on pause plans to build a Georgia factory, said in mid-April it is laying off more workers as it cuts costs to buttress its balance sheet. California-based Rivian said it will cut about […]

April 2, 2024

Rivian Automotive Inc. built and delivered more electric vehicles last quarter than Wall Street expected, giving the automaker a needed boost as it grapples with production hurdles and heavy costs. The company made 13,980 EVs in the first three months […]

March 7, 2024

Rivian Automotive is halting plans to build a new multibillion-dollar factory in Georgia, an abrupt reversal aimed at cutting costs while the company prepares to launch a cheaper electric vehicle. The decision will save the automaker more than $2.25 billion […]

February 22, 2024

Rivian Automotive Inc. shares fell in early trading after the electric vehicle maker issued a disappointing production forecast and announced another round of job cuts. The maker of plug-in pickups, SUVs and delivery vans expects to build just 57,000 vehicles […]

December 19, 2023

Electric vehicle startup Rivian announced Dec. 19 it has chosen the construction firm to build its planned $5 billion factory an hour east of Atlanta. Chicago-based Clayco will construct the 16 million-square-foot factory on an 1,800-acre megasite in southern Morgan […]

August 8, 2023

Rivian Automotive Inc. expects heavy losses to continue as it boosts production plans for the year and works to reestablish itself as a rising player in the increasingly crowded EV market. The company will build about 52,000 vehicles in 2023, […]

March 6, 2023

Rivian Automotive Inc. has told employees that production of 62,000 electric vehicles is possible this year, according to people familiar with the matter, an increase from the production target it told investors on Feb. 28. The Irvine, Calif.-based company’s production […]

December 12, 2022

Rivian Automotive Inc. is shelving plans to jointly build electric vans in Europe with Mercedes-Benz AG, aborting a deal signed just three months ago to share costs and quickly scale up production. Rivian will no longer pursue the memorandum of […]

July 27, 2022

Rivian Automotive Inc. is cutting about 6% of its workforce and simplifying product plans, saying the economy has made it harder for the electric vehicle maker to raise money to build up production. The Irvine, Calif.-based company confirmed the cuts […]

June 8, 2022

The chief executives of electric-vehicle startups Lucid LCID -0.99%▼ Group Inc. and Rivian RIVN 2.55%▲ Automotive Inc. each received pay packages last year valued at over $400 million, as both companies raced to public markets and increased production in the […]

May 27, 2022

Rivian Automotive Inc. is shuffling its executive ranks in an effort to help the Amazon.com Inc.-backed company overcome growing pains. The automaker is parting ways with its head of manufacturing, Charly Mwangi, CEO R.J. Scaringe said in an internal email […]

May 17, 2022

Rivian’s Amazon electric delivery van production might face some delays after the electric vehicle (EV) startup sued its custom-seat supplier over alleged pricing issues. The giant retailer Amazon ordered its first-ever electric vans from the EV startup Rivian, but it […]

May 9, 2022

Ford F -5.22%▼ Motor Co. has sold off about 8% of its stockholdings in Rivian RIVN -18.70%▼ Automotive Inc., according to people familiar with the matter, pushing shares of the electric-vehicle startup to an all-time low. Rivian stock has come […]

April 28, 2022

A development authority east of Atlanta has voted to approve an “economic development agreement” for the planned $5 billion Rivian factory, outlining terms with the electric vehicle company, including environmental standards and taxpayer-backed incentives. The agreement is a key milestone […]

December 28, 2021

Rivian is delaying its R1T Max, with 400 miles of range on its battery to 2023, and it is because the company will prioritize the production of its regular line of electric pickup trucks. People with preorders to the long-range […]

November 29, 2021

EV start-up Lucid, which delivered its first vehicle on October 30th, has a market cap bigger than Ford’s and is now the eighth most valuable car company in the world. Tesla, Rivian and Lucid are valued at a completely different […]

August 2, 2021

Rivian Automotive Inc., the electric truck startup backed by Amazon.com Inc. and Ford Motor Co., is in talks with the U.K. government on building its first manufacturing plant outside the U.S. near the English city of Bristol, Sky News reported. […]

February 11, 2021

Rivian Automotive Inc., the electric-vehicle maker backed by Amazon.com Inc., is scouting locations in Europe to build a new factory, according to people familiar with the matter. The site likely would first produce a delivery van for Amazon and soon […]

January 19, 2021

Rivian, the electric vehicle start-up backed by Amazon and Ford Motor, on Tuesday said it closed on a $2.65 billion investment round led by T. Rowe Price funds as the company moves closer to production of an all-electric pickup and […]

November 18, 2020

British electric vehicle start-up Arrival announced Wednesday that it will go public through a merger with a U.S. blank-check company. This year has seen a flurry of SPACs, or special purpose acquisition companies, come to market as businesses have shunned […]