Californian electric vehicle maker, Rivian, has set itself loftier delivery targets for 2023 after releasing its production forecast for the year, confirming its heavy cash reserves can keep its momentum high well into 2025. All up, Rivian expected to deliver 50,000 vehicles for the year, with company executives expecting this […]
Rivian
Rivian share price tumbles after safety recall impacts 92% of deliveries
Californian electric vehicle maker, Rivian, has seen its share price hit by a steep drop after recalling 13,000 vehicles for a potential safety issue which accounted for 92 per cent of its overall deliveries. Rivian started producing customer orders in the third quarter of 2021, and has so far delivered […]
Mercedes-Benz Vans & Rivian strike deal on EV van production
Californian electric vehicle start-up Rivian has signed a deal with none other than automotive behemoth, Mercedes-Benz Vans, that will see the two partner up and create a range of Mercedes and Rivian-branded large electric vans. Officially, the two have signed a Memorandum of Understanding that lays out the bedrock for […]
Rivian records $1.6 billion loss in Q1 alongside $95m in revenue
Californian EV manufacturer, Rivian, has posted a net loss totalling US$1.6 billion for the first quarter of this year, while reporting revenue figures of $95 million. In spite of the less than desirable figures, Rivian says that it is on track to meet its annual production estimates of 25,000 deliveries […]
Billionaire George Soros buys $2.8 billion stake in Rivian
Just a few months after Californian electric vehicle start-up Rivian took to the share market in its initial public offering, the head of one of the largest investment funds has revealed they have purchased a US$2.8b stake. The Soros Investment Fund, headed by billionaire philanthropist George Soros, purchased 19,835,761 shares […]
Ford ditches plan to co-develop new electric vehicles with Rivian
Automotive giant Ford has confirmed it is ditching a previously-announced plan to jointly develop a series of new electric vehicles with Rivian, which has sent the start-up’s share price plummeting. Back in 2019, Ford announced it would invest US$500 million into Rivian while confirming plans the two companies were going […]
Rivian aiming to raise $8 billion in IPO, seeks valuation of $80b – report
Californian electric vehicle manufacturer, Rivian is eyeing off a market valuation exceeding $80 billion as it attempts to raise more than $8 billion in an upcoming initial public offering (IPO), according to reports. Reuters is writing that the Amazon-supported electric vehicle maker is looking to raise anywhere between $5-8 billion […]
Rivian announces capacities, dimensions for R1T electric pickup
American company Rivian has spilled the beans on the all-important capacities and key dimensions for its upcoming R1T all-electric ute, which looks set to tread the line between massive and mid-size (large by Australian standards). Rivian is a relatively young company which was founded in 2009, and in 2017 announced […]