If you can imagine a posh sedan that could go from the country club valet lot to an off-road campsite, you’ve got the basic idea of a luxury four-door pickup truck. Be advised, the manufacturer’s suggested retail prices shown don’t reflect optional equipment. (Courtesy of Ram Trucks) King of the Road Dodge Ram 3500 $44,520…
Ford Sells Shares in EV Maker Rivian for $214 Million
Ford Motor Co. sold eight million shares of electric-car maker Rivian Automotive Inc. for $214 million, or $26.80 apiece, the U.S. automaker said in a filing on Tuesday. Ford now holds nearly 94 million shares, or a 10.5 percent stake, and is still the fourth-largest shareholder in the Irvine, California-based company, according to Refinitiv data….
Rivian on Track to Meet Production Target of 25,000 Vehicles
Electric vehicle maker Rivian Automotive Inc. said on Tuesday it is on track to achieve its production target of 25,000 vehicles this year, sending its shares up 2.4 percent in extended trading. The company said it had made 2,553 vehicles and delivered 1,227 cars in the first quarter. It produced 1,015 vehicles and delivered 920…
Billionaire Soros Buys Stake in EV Startup Rivian
NEW YORK—Billionaire investor George Soros bought nearly 20 million shares of electric truck startup Rivian Automotive Inc. in the quarter ended Dec. 31, securities filings showed Friday. The 19,835,761 shares, worth about $2 billion at the time, makes Soros Fund Management among the most prominent investors in a company that has yet to produce a…
Rivian Manufactured 1,015 Vehicles in 2021, Says COO Retired
January 12, 2022
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Rivian Automotive Inc. produced 1,015 vehicles by the end of 2021, the Amazon-backed electric pickup truck maker reported in a filing on Monday, in line with its lowered expectations. Last month, Rivian said it expected production to be “a few hundred vehicles short” of its 2021 target of 1,200 because of supply chain constraints. The…
Rivian Shares Tumble as Legacy Automakers Rev up EV Targets
Shares of Rivian Automotive Inc. briefly fell below their IPO price on Thursday in a broader selloff among electric vehicle (EV) makers as the race for market share intensifies with legacy companies ramping up EV production. Rivian shares fell as much as 16.5 percent to $75.13, slipping below the debut price of $78 for the…
Rivian Delays Deliveries of Pickup, SUV With Big Battery Packs to 2023
Rivian Automotive Inc will delay deliveries of its electric pickup truck and sports utility vehicle with big battery packs to 2023, Chief Executive RJ Scaringe said in a mail to customers on Tuesday. Scaringe said majority of Rivian’s roughly 71,000 preorders for its R1T pickup truck and R1S SUV in the United States and Canada…
Rivian Expanding With New Factory in Georgia
December 17, 2021
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Electric transport startup Rivian will be setting up a second factory in Georgia, according to a company announcement on Thursday, indicating a positive outlook despite posting losses for the recent quarter after a disappointing Wall Street performance. From the proceeds of its Nov. 10 initial public offering, the Amazon-backed electric vehicle startup will invest $5…
Worldwide IPOs Set New Record With $600 Billion Valuations
Global initial public offerings had the best year on record in 2021, especially those in the United States, with an abundance of liquidity and favorable monetary policies that have resulted in high company valuations and a special purpose acquisition (SPAC) boom. About 2,850 businesses and SPAC companies have raised more than $600 billion in IPOs…
Ford, Rivian Dump Plans to Jointly Develop a Ford Electric Vehicle
November 20, 2021
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Ford Motor Co. and Rivian Automotive Inc. have dropped plans to jointly develop an electric vehicle, Ford confirmed on Friday. “We respect Rivian and have had extensive exploratory discussions with them,” a spokesperson told Reuters. “However, both sides have agreed not to pursue any kind of joint vehicle development or platform sharing.” Ford owns about…
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