This electric vehicle maker's losses nearly tripled to $1.7 billion
2 years, 4 months ago

This electric vehicle maker's losses nearly tripled to $1.7 billion

Hindustan Times  

Electric automaker Rivian on Thursday said its losses had nearly tripled to $1.7 billion in the second quarter, but that it is on the road to meeting production goals. The California-based maker of electric trucks, SUVs, and delivery vans said that it delivered 4,467 vehicles during the quarter, generating revenue of $364 million compared to zero revenue in the same period a year earlier. The company expected to post an overall loss of $5.45 billion this year due to factors including rising costs of materials and freight as well as supply line challenges, the earnings letter said. Rivian said Amazon has rolled out custom electric delivery vans in more than a dozen cities in the United States.

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History of this topic

The plan for Irvine EV maker Rivian to emerge from its ‘awkward teenage years’
1 month ago

The plan for Irvine EV maker Rivian to emerge from its ‘awkward teenage years’

LA Times  

Rivian electric vehicles are displayed at the Rivian Venice Hub in California. In an interview, Rivian’s Chief Executive and founder RJ Scaringe described a company in its “awkward teenage years.” “I’ve never been more optimistic since the very first day I started the company around our ability to drive impact,” said Scaringe, 41, referring to Rivian’s influence in the EV …

EV maker Rivian falls short of revenue projections for third quarter
1 month, 2 weeks ago

EV maker Rivian falls short of revenue projections for third quarter

LA Times  

Irvine-based EV maker Rivian attributed its failure to meet third-quarter revenue projections to a production disruption and “a more challenging consumer environment.” Electric vehicle maker Rivian missed Wall Street’s expectations for revenue on Thursday with sales coming in lower than anticipated in the third quarter. In a shareholder letter, Rivian attributed the revenue drop to a production disruption and “a …

Rivian cuts production forecast, citing supply chain issue; its stock dips
2 months, 3 weeks ago

Rivian cuts production forecast, citing supply chain issue; its stock dips

LA Times  

Rivian all-electric trucks are parked in Times Square on the company’s first day of public trading on the stock market in November 2021. Electric vehicle maker Rivian saw its shares dip Friday after the Irvine-based company cut its production targets amid ongoing supply issues. Citing a shortage of a component used to build its electric pickups, sport utility vehicles and …

Irvine-based EV maker Rivian gets $5-billion lifeline from Volkswagen
6 months ago

Irvine-based EV maker Rivian gets $5-billion lifeline from Volkswagen

LA Times  

A family from Kentucky picks up a truck at the Rivian factory in Normal, Ill., in 2022. Irvine-based Rivian Automotive got a big financial boost on Tuesday, as Volkswagen agreed to invest up to $5 billion in a joint venture with the struggling manufacturer of electric trucks. Business Once the darling of the EV world, the electric truck-maker Rivian is …

EV truck maker Rivian warns the state of more layoffs
7 months, 1 week ago

EV truck maker Rivian warns the state of more layoffs

LA Times  

A family picks up a truck at the Rivian plant in Normal, Ill., in 2022. Rivian Automotive Inc., at one time considered the darling of the electric vehicle market, has informed state officials that it plans more layoffs in California. In an April 24 letter to the state’s Employment Development Department, the company’s vice president of people, Scott Griffin, said …

Once the darling of the EV world, the electric truck-maker Rivian is reeling
10 months ago

Once the darling of the EV world, the electric truck-maker Rivian is reeling

LA Times  

Rivian blew the roof off during its initial public offering of stock in 2021, ending its first day of trading valued at nearly $88 billion. “Rivian’s fairly bleak 2024 guidance, including no volume growth and continued steep losses, in our view, showcases the company’s deep challenges ahead,” Rosner wrote. Rivian said it would continue its “company-wide cost transformation program,” which …

Rivian to end exclusivity with Amazon, allow other companies to buy its electric vans
1 year, 1 month ago

Rivian to end exclusivity with Amazon, allow other companies to buy its electric vans

Associated Press  

Electric vehicle maker Rivian said Tuesday that it will allow other companies to purchase its fleet of delivery vans, ending an exclusive agreement with Amazon. In an announcement made alongside its third quarter earnings, the Irvine, California-based car maker said the decision provides other companies more opportunity to electrify their delivery fleets and reduce carbon emissions. More sales of Rivian …

Amazon and electric car maker Rivian partner to deploy 10,000 customised EVs this year
2 years, 4 months ago

Amazon and electric car maker Rivian partner to deploy 10,000 customised EVs this year

The Hindu  

E-commerce platform Amazon is working with the electric vehicle manufacturer Rivian to develop and deploy a fleet of 10,000 electric delivery vehicles this year and 100,000 such vehicles by 2030. “Manufactured at Rivian’s plant in Normal, Illinois, they’ll come in three size variants and support multiple battery sizes so they can be optimized for specific delivery routes,” stated an Amazon …

Sources: Rivian to build $5B electric truck plant in Georgia
3 years ago

Sources: Rivian to build $5B electric truck plant in Georgia

Associated Press  

ATLANTA — Electric vehicle maker Rivian Automotive will announce Thursday that it’s building a $5 billion battery and assembly plant east of Atlanta that’s projected to employ 7,500 workers, sources briefed on the decision told The Associated Press. Rivian, based in Irvine, California, is a startup manufacturer of electric trucks and commercial delivery vans, challenging both established automakers like Ford …

Rivian gets U.S. regulatory go-ahead to deliver EVs to customers
3 years, 3 months ago

Rivian gets U.S. regulatory go-ahead to deliver EVs to customers

LA Times  

Rivian Automotive Inc., the electric pickup maker backed by Amazon.com Inc., says it has received full regulatory certifications and can start delivering its first electric vehicle to U.S. customers. Last month, Bloomberg reported Rivian had filed confidentially for an initial public offering and was seeking a valuation of around $80 billion. Autos Amazon bets on electric truck maker Rivian In …

Rivian CEO eyes smaller electric vehicles for China, Europe
4 years, 1 month ago

Rivian CEO eyes smaller electric vehicles for China, Europe

Firstpost  

By Ben Klayman and Paul Lienert DETROIT - Electric vehicle startup Rivian, which is backed by Amazon and Ford Motor Co, on Wednesday said it plans to follow up its first two products, a full-size pickup and SUV, with smaller models targeted at China and Europe where it may eventually build some vehicles. While Rivian plans to begin selling the …

Amazon Introduces Its First Custom Electric Delivery Vehicle in Partnership With Rivian
4 years, 2 months ago

Amazon Introduces Its First Custom Electric Delivery Vehicle in Partnership With Rivian

News 18  

Amazon has introduced its first custom electric delivery vehicle, designed and built in partnership with Rivian. In support of The Climate Pledge commitment to be net zero carbon by 2040, 10,000 Amazon custom electric delivery vehicles will be on the road delivering to customers worldwide as early as 2022 and all 100,000 by 2030. “We combined Rivian’s technology with our …

Alexa gets behind the wheel! Amazon's custom electric delivery van will hit the road in 2022
4 years, 2 months ago

Alexa gets behind the wheel! Amazon's custom electric delivery van will hit the road in 2022

Daily Mail  

Amazon has officially unwrapped its all-electric delivery van 'packed with state-of-the-art technology.' The e-commerce giant is set to unleash 10,000 electric vans to make deliveries 'as early as 2022' and will have a total fleet of 100,000 by 2030. Scroll down for video Amazon has officially unwrapped its all-electric delivery van 'packed with state-of-the-art technology' Cutting emissions is a challenging …

These electric car startups are looking to take on Tesla
4 years, 5 months ago

These electric car startups are looking to take on Tesla

CNN  

CNN — Tesla shares have risen bymore than 500% in the past 12 months, and as the ticket to ride the erstwhile rocket ship gets ever-pricier, interest is surging in new competitors that might be “the next Tesla.” There’s not only Nikola,whichbriefly overtook Ford in terms of market value, despite never having produced a vehicle for sale. But there’s also …

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