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Rivian Automotive, Inc. (NASDAQ: RIVN) is an American company specializing in the development and production of electric vehicles (EVs) and related accessories. The company is dedicated to accelerating the global transition to zero-emission transportation by offering innovative, sustainable products designed for both consumer and commercial use. Rivian sells its vehicles directly to customers and provides a full suite of lifecycle services, including maintenance, repairs, and charging solutions.
- Consumer Vehicles - Manufactures electric vehicles for individual customers, including the R1T (electric pickup truck) and R1S (electric SUV), designed for adventure and utility.
- Commercial Vehicles - Produces electric delivery vans (EDVs) for commercial clients, supporting fleet electrification and sustainability goals.
- Lifecycle Services - Offers comprehensive services for vehicle maintenance, repairs, and charging infrastructure to enhance customer experience and vehicle longevity.
- Regulatory Credit Sales - Generates revenue through the sale of environmental regulatory credits, supporting the company's sustainability initiatives.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Robert J. Scaringe ExecutiveBoard | CEO and Chairman of the Board | Director of Forever by Rivian, Inc.; Trustee of the Rivian Foundation | Founder of Rivian, instrumental in its growth and innovation in the EV sector. Holds a B.S. from Rensselaer Polytechnic Institute and an M.S. and Ph.D. from MIT. | View Report → |
Claire McDonough Executive | Chief Financial Officer | None | Joined Rivian in January 2021, previously Managing Director at J.P. Morgan. Holds significant experience in finance and strategy. | |
Dagan Mishoulam Executive | Senior Vice President, Commercial | None | Assumed responsibilities following the resignation of Dr. Kjell Gruner. Has played an integral role at Rivian for several years. | |
Jay Flatley Board | Director | Chairman of Cellanome, Wellcome Leap Fund, Iridia, Inc.; Board member of Denali Therapeutics; Trustee of The Salk Institute | Former CEO of Illumina, with a strong background in biotechnology and innovation. | |
John Krafcik Board | Director | Supervisory board member at Daimler Truck AG | Former CEO of Waymo, with extensive leadership experience in the automotive industry. | |
Karen Boone Board | Director | Director at Sonos, Inc. and Peloton Interactive, Inc. | Lead Independent Director since November 2021, with a background in finance and leadership roles at Restoration Hardware and Deloitte. | |
Peter Krawiec Board | Director | Senior Vice President of Worldwide Corporate and Business Development at Amazon | Extensive experience in strategic acquisitions and partnerships. Has held various roles at Amazon since 2004. | |
Rose Marcario Board | Director | Trustee of the Rivian Foundation; Board member of Meati, Inc. | Former CEO of Patagonia, with extensive management experience in private equity, technology, and retail industries. | |
Sanford Schwartz Board | Director | CEO of the Cox Family Office; Board memberships at A.C. Green Youth Foundation, Northwood University, Axios, Checkered Flag Foundation | Former President and CEO of Cox Automotive Inc., with extensive leadership experience in the automotive industry. |
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Given the supply constraints with the Enduro motor that significantly impacted your Q3 production, can you elaborate on the specific steps you're taking to resolve these issues and how you plan to prevent similar supply disruptions in the future?
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With the challenging consumer environment and the end of early preorder pricing volumes affecting demand for R1 vehicles in Q3, what strategies are you implementing to stimulate demand and adjust to the changing market conditions?
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Considering the importance of the R2 program for your future profitability, can you discuss any risks associated with the R2 production timeline, especially with the planned production shutdown in 2025 for plant preparations, and how you intend to mitigate them?
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You have increased your regulatory credit sales outlook to approximately $300 million for 2024; how sustainable is this revenue stream going forward, and what measures are you taking to offset potential declines in regulatory credit sales in future years?
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With the joint venture with Volkswagen yet to close and specifics not fully announced, how confident are you in achieving the expected proceeds and benefits, and what impact would potential delays or changes in this partnership have on your capital roadmap and plans to reach free cash flow positive?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Amazon Logistics, Inc. | Major commercial partner focusing on electric last-mile delivery vehicles | All | A large portion of RIVN’s revenues comes from Amazon (exact percentage not disclosed). Amazon beneficially owns 13.5% of RIVN’s voting power as of December 31, 2024. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Iternio | 2023 | In Q2 2023, Rivian acquired Iternio, the developer behind the 'A Better Routeplanner' (ABRP) app to enhance its in-vehicle and mobile charging navigation, while also maintaining the app as a stand-alone service for all electric vehicle drivers. |
Immaterial acquired company | 2023 | On January 23, 2023, Rivian completed an immaterial acquisition by issuing 239,884 shares of Class A common stock valued at approximately $2 million, relying on exemptions under Section 4(a)(2) of the Securities Act and Regulation S. |
Recent developments and announcements about RIVN.
Earnings
New Earnings (Q4 2024)
·Mar 7, 2025, 1:11 AMView full earnings summary →Rivian cut its per-vehicle costs by $31K yoy in Q4 2024, driving its first positive gross margin and a $729M improvement in adjusted EBITDA. However, 2025 deliveries are guided flat, signaling potential growth challenges ahead for RIVN’s near-term outlook.
8-K Filings
8-K Filing
·Mar 7, 2025, 10:06 PMLeadership ChangesView full 8-K filing →Rivian has appointed Sreela Venkataratnam as Chief Accounting Officer effective March 10, 2025. Her package includes a base salary of $425K, a 50% bonus target, a $6M RSU grant vesting quarterly over 4 years, and a $20K signing bonus.