Sunday, September 1, 2024

Electric cars: Rivian (NASDAQ:RIVN)

Rivian is an American manufacturer of electric vehicles. 

  • Founder & CEO: RJ Scaringe (2009–) 
  • Founded: 2009 
  • Headquarters: Plymouth, Michigan
  • More than 3,600 employees split across offices in Michigan and California and its production facility in Illinois.
  • Privately held company (Limited liability company)
  • The startup was valued at $27.6 billion in a funding round in January '21.
  • The Rivian IPO: November 10, 2021.
  • Investors in the electric-vehicle startup include Amazon, Ford, T. Rowe Price, BlackRock, Soros Fund Management and Fidelity.
  • Rivian has a deal with Amazon to build 100,000 custom electric delivery vans by 2030. 
  • https://rivian.com/
 
R2, a midsize Tesla (TSLA) Model Y competitor 
The Rivian R2 electric vehicle is unveiled at the Rivian South Coast Theater in Laguna Beach, Calif., on March 7, 2024. (Patrick T. Fallon / AFP via Getty Images)
 
 
The R1T is an all-new model from Rivian, and the company started delivering to customers in June 2021. It kicks off with a Launch Edition that starts at $75,000.

The truck will is sold directly to consumers, although Rivian says that it also will set up a network of service centers and Tesla-like stores. Going on sale soon after the R1T truck will be the R1S, a seven-passenger SUV with similar specs.

The company has retrofitted a former Mitsubishi Motors plant in Normal, Illinois, where it also plans to build the EV delivery van for Amazon.

Electric 2021 Rivian R1T



Founder Robert "RJ" Scaringe
He grew up in Melbourne, Florida, and has a doctorate in mechanical engineering from MIT's Sloan Automotive Lab.
 
Rivian's assembly plant in Normal, Illinois

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