Welcome to our dedicated page for Rivian Automotive news (Ticker: RIVN), a resource for investors and traders seeking the latest updates and insights on Rivian Automotive stock.
Rivian Automotive, Inc. (symbol: RIVN) is at the forefront of the electric vehicle (EV) revolution, designing, developing, and manufacturing innovative electric vehicles and accessories. The company's mission is to inspire people to explore the world, whether it’s a family camping trip or a weekend getaway. Rivian is dedicated to providing the ultimate platform for life’s adventures.
The company has established three state-of-the-art development centers located in Plymouth, MI, San Jose, CA, and Irvine, CA. Complementing these development hubs is a modern, fully operational 2.6 million square foot manufacturing plant situated in Normal, IL. This extensive infrastructure supports Rivian's vision and underscores its commitment to pioneering the future of mobility.
Rivian's flagship offerings in the consumer market include the R1 platform, which features the first generation of consumer vehicles: the R1T, a two-row, five-passenger pickup truck, and the R1S, a three-row, seven-passenger sport utility vehicle (SUV). Both models are designed to meet the needs of adventurous consumers seeking reliable and eco-friendly transportation solutions.
The company boasts a diverse and passionate team with backgrounds in various industries including automotive, technology, industrial equipment, consumer electronics, and aerospace. This eclectic mix of expertise fuels Rivian's innovative spirit and drive to turn ambitious ideas into reality.
Rivian is also actively expanding its workforce, seeking curious and determined individuals who share a passion for creating the world of tomorrow. The company's culture emphasizes collaboration, creativity, and a relentless pursuit of excellence.
For investors and stakeholders, Rivian represents a bold venture into the future of transportation, backed by significant achievements and ongoing projects. The company's financial health is bolstered by strategic partnerships and a clear vision for sustainable growth.
Stay tuned to the latest Rivian News to keep up with developments and updates as the company continues to shape the landscape of electric vehicles.
Rivian and Volkswagen Group announced plans for a joint venture to develop next-generation software-defined vehicle (SDV) technology. Volkswagen will initially invest $1 billion in Rivian, with up to $4 billion in additional investment planned, totaling $5 billion. The JV aims to leverage Rivian's existing electrical architecture to create a cutting-edge SDV platform for both companies' future electric vehicles. The partnership is expected to lower costs per vehicle, accelerate global innovation, and enhance both companies' product offerings. Completion of the JV is anticipated by Q4 2024, pending regulatory approvals.
The collaboration will allow Volkswagen to utilize Rivian's technology in the short term, and both companies aim to launch vehicles with the new SDV technology in the latter half of the decade. The JV is also expected to secure substantial capital for Rivian's growth. Financial advisors for the deal include Lazard and BDT & MSD Partners.
Rivian Automotive (NASDAQ: RIVN) has announced that it will hold an Investor Day on Thursday, June 27, 2024, starting at 8am CT. During the event, Rivian’s leadership will provide investors with updates on the company’s progress and outline key priorities for the future. A live webcast of the event will be available, and a recording will remain accessible for one year post-event.
Rivian has unveiled its second-generation R1S SUV and R1T pickup, featuring overhauled hardware, performance enhancements, and a new software experience. The new models start at $69,900 and include Rivian-designed Quad Motor delivering 1,025 horsepower and 0-60 mph in under 2.5 seconds. The vehicles offer different motor configurations, advanced thermal systems, and new battery packs providing up to 420 miles of range. Updated technology includes a redesigned electrical architecture and an advanced autonomy system with enhanced safety features. These updates improve efficiency, reduce manufacturing costs, and lower the carbon footprint by 15% compared to the previous generation. Pricing starts at $75,900 for R1S and $69,900 for R1T, with immediate deliveries.
Rivian (NASDAQ: RIVN) announced that its CFO, Claire McDonough, will participate in a fireside chat at the Deutsche Bank Global Auto Industry Conference on June 11, 2024, at 3:25 p.m. EDT.
The event will be live-streamed, and a recording will be available post-event.
Rivian (NASDAQ: RIVN) announced that its Founder and CEO, RJ Scaringe, will participate in a fireside chat at Bernstein’s 40th Annual Strategic Decisions Conference on May 30, 2024, at 8.00am EDT. The event will be available via live webcast. Investors and media can contact Rivian for more information.
Rivian, the American electric vehicle (EV) manufacturer, has partnered with Pivot Energy to develop 60 Megawatts (MWdc) of solar energy, including a community solar subscription for its Illinois manufacturing facility. Rivian will purchase Renewable Energy Certificates (RECs) generated from 50 MWdc of solar and subscribe to 10 MWdc of community solar. This initiative aims to reduce emissions in a region where the electric grid is 67% dirtier than the U.S. average. The projects will generate around 79,000 megawatt-hours (MWh) of clean electricity annually, enough to power 10,892 households. Additionally, both companies will invest in local community organizations, focusing on energy reduction for low-income families and workforce development in the solar industry. Rivian aims for its Illinois facility to run on 100% renewable energy by 2030.
Galehead Development has entered into an agreement with Rivian Automotive to develop renewable energy projects tailored to Rivian’s locational and environmental priorities. The collaboration will leverage Galehead's proprietary LandCommand® technology to convert Rivian's 3C Framework into actionable developments. This Framework, launched in 2023 with The Nature Conservancy, commits Rivian to sourcing renewable energy that positively impacts climate, conservation, and communities. Galehead will manage and fund these projects until they mature for off-take agreements. The partnership aims to maximize renewable energy value and simplify the path to agreements, with hopes for broader adoption in the industry.
Rivian Automotive, Inc. (NASDAQ: RIVN) announced its first quarter 2024 financial results, surpassing expectations with vehicle production and deliveries. The company unveiled a new midsize platform, aiming to start R2 production in Illinois in 2026. The retooling upgrade brought cost efficiencies, leading to a higher line rate. Despite negative gross profit, Rivian remains on track for modest gross profit in Q4 2024.
Rivian Automotive, Inc. (NASDAQ: RIVN) has appointed Javier Varela as its new Chief Operations Officer to focus on optimizing operational efficiencies, specifically for the production of the R2 midsize SUV. Varela, who joins Rivian from Volvo Cars, brings extensive experience in the automotive industry and will play a important role in the company's growth and profitability.
Rivian Automotive, Inc. (NASDAQ: RIVN) is set to expand its operations in Normal, IL with an $827M incentive package from the State of Illinois. The funds will be used to increase capacity at its manufacturing plant to produce the highly anticipated R2 midsize SUV. The company's investment will also focus on public infrastructure improvements, job training programs, and city improvement projects to boost the Illinois economy.
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