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 R1S
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 […]
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 […]
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 […]
Top 10 best SUVs coming to Australia in 2022
In the wake of factory shutdowns and microchip shortages, the number of new cars released in 2021 has been massively hindered by external forces hitting even the world’s largest manufacturers. Thankfully, though, momentum has been steadily picking up in recent months, and it looks as though 2022 is set to […]