Category: Rivian
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Rivian posts $170 million ‘gross profit’ in Q4, sees losses decreasing as variable costs improve
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Rivian (Rivn) reported strong results in the fourth quarter after the bell on Thursday and got its goal of spreading a “total profit” for the quarter, with EBITDA smaller than expected in 2024 (pre -interest profits, taxes, consumption, and firefighting) is a loss of preamble. The company also sees a…
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Rivian says other automakers ‘knocking on door’ about tech from VW joint venture
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Written by Abu Hoaroub Roy Palau Alu Alto (California) (Reuters) – A joint project between US Electric Cars, Revyan SUVs and Volkswagen is holding talks with other car manufacturers on the supply of their software and electrical engineering. In November, the German auto manufacturer agreed to invest $ 5.8 billion…
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Elon Musk’s DOGE partner Vivek Ramaswamy blasts $6.6 billion Biden loan to Tesla rival Rivian
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Vivek Ramaswamy, a government efficiency aide appointed by Donald Trump, has signaled his intention to scrutinize the loan the Biden administration granted to electric vehicle manufacturer Rivian, a Tesla competitor. Ramaswamy, founder of several biotechnology companies known collectively as “Vans“, is set to take charge of the quasi-official Department of…
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Rivian wins preliminary approval for $6.6B federal loan for Georgia EV plant
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Rivian (RIVN) announced late Thursday night that it has received a “conditional commitment” from the Department of Energy (DOE) for a $6.6 billion loan, highlighting Rivian’s improving capital situation. The loan, part of the Department of Energy’s Advanced Technology Vehicle Manufacturing (ATVM) program, will support construction of Rivian’s upcoming assembly…
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Rivian wins preliminary approval for $6.6B federal loan for Georgia EV plant
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Rivian (RIVN) announced late Thursday night that it has received a “conditional commitment” from the Department of Energy (DOE) for a $6.6 billion loan, highlighting Rivian’s improving capital situation. The loan, part of the Department of Energy’s Advanced Technology Vehicle Manufacturing (ATVM) program, will support construction of Rivian’s upcoming assembly…
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Rivian Shares Drop After EV Maker Slashes Production Target
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(Bloomberg) — Shares of Rivian Automotive Inc. fell. After the automaker reduced its annual production target, citing a worsening supply crisis at its only assembly plant in the United States. Most read from Bloomberg The company now expects production to decline by up to 18% this year, due to ongoing…
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Watch for more auto shockers after Rivian landed Volkswagen as a major partner
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hapapapa Rivian Cars (Nasdaq:RIVN) shook up some tremors across the electric vehicle sector with its announcement that the company will form a joint venture with Volkswagen (OTCPK:VLKAF) (OTCPK:VWAGY). Volkswagen (OTCPK:VLKAF) $5B Initial and Planned Investments, Plus Rivian (RIVN)) Current Cash Position It is expected to provide capital to fund the…
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Rivian stock soars as Volkswagen says it will invest up to $5 billion in new joint venture
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Shares of Rivian (RIVN) rose in the hours after the electric vehicle maker announced a joint venture deal with Volkswagen (VWAGY), bringing new capital into Rivian’s coffers. Shares of Irving, Calif.-based Rivian rose more than 40% in after-hours trading. Volkswagen has announced that it intends to work with Rivian to…
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Rivian updates R1 with new motors, battery packs for improved performance and lower costs
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Rivian (RIVN) has unveiled its updated R1 pickup and SUV, with improved features and new powertrains aimed at making its electric vehicles cheaper to manufacture. The R1T pickup and R1S SUV maintain their distinctive exterior design. Most of the changes are done under the hood as well using software. The…