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Rivian

American EV manufacturer founded in 2009.

Rivian produces electric SUVs, pickup trucks, and delivery vans. It started deliveries of its R1T pickup truck in late 2021. The company plans to establish a charging network in the US and Canada by 2023. Rivian is headquartered in Irvine, California, with manufacturing facilities in various locations worldwide. It raised over US$13.5 billion after going public in November 2021.

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Timeline

Birth of Robert Scargine

Robert Scargine, the founder and CEO of Rivian, was born on January 19, 1983, in Melbourne, Florida. His passion for cars and the outdoors from a young age led him to establish Rivian.

Introduction of Rivian Logo

Rivian introduced a simple and versatile logo design that is eye-catching, clean, and memorable. The logo reflects the brand's identity and stands out from competitors, resonating with consumers.

Rivian's Inception

Rivian started its operations just over a decade ago, captivating industry analysts and consumers with its innovative technology and robust market positioning.

Transformation into Rivian Automotive

In 2011, Avera Automotive transitioned into Rivian Automotive, focusing exclusively on electric cars and abandoning their initial project of a mid-engine hybrid hatchback.

Rivian showcased new electric vehicles in 2014.

Rivian Electric Automaker Emerges in Bloomington-Normal

Rivian, the electric automaker, became publicly known in Bloomington-Normal five years ago. It has since become the area's third-largest employer with 3,700 workers and recently had a significant IPO. The company purchased the former Mitsubishi plant in Normal.

Rivian Acquires Mitsubishi Plant in Normal

In 2016, a young entrepreneur named RJ Scaringe, founder of Rivian, purchased the old Mitsubishi plant in Normal for $16 million. This acquisition marked a significant turning point for Rivian as they ventured into the automotive industry.

Rivian purchases production plant from Mitsubishi Motors

In January 2017, Rivian, led by Robert, acquired a production plant in Illinois previously owned by Mitsubishi Motors for $16 million. This strategic purchase enabled Rivian to showcase their first two models, the R1T electric truck and R1S electric SUV, at the LA Auto Show.

Rivian unveils R1T pickup and R1S SUV at LA Auto Show

By the end of 2017, Rivian announced the completion of its two alpha prototypes. Less than a year later, the R1T pickup truck and R1S SUV made their debut at the LA Auto Show, with production set to commence in 2020.

Alex Honnold partners with Rivian

On December 20, 2018, professional rock climber Alex Honnold announced his partnership with Rivian as a brand partner and collaborator.

Investment round led by Amazon

On February 15, 2019, Amazon led an investment round of $700 million into Rivian.

Investment by Ford Motor Company

On April 24, 2019, Ford Motor Company invested $500 million in Rivian at a pre-money valuation of $4.5 billion.

Rivian collaborates with Honnold Foundation and Casa Pueblo on solar project

Rivian announced plans to collaborate with the Honnold Foundation and nonprofit Casa Pueblo on a solar project aiming to establish a microgrid in Adjuntas, Puerto Rico, a city severely affected by Hurricane Maria in 2017.

Rivian goes public through IPO

On November 10, 2021, Rivian became a public company through an Initial Public Offering (IPO), with shares trading on the Nasdaq under the ticker 'RIVN'.

Investment round led by T. Rowe Price

On January 19, 2021, Rivian raised $2.65 billion led by existing investor T. Rowe Price alongside other prominent investors.

Investment round led by Amazon's Climate Pledge Fund

On July 23, 2021, Rivian raised $2.5 billion in a round led by Amazon's Climate Pledge Fund, D1 Capital Partners, and Ford Motor Company.

Rivian goes public on Nasdaq

On November 10, 2021, Rivian conducted its initial public offering (IPO) and started trading on the Nasdaq under the symbol 'RIVN.' The IPO, backed by investments from Amazon and Ford Motor Co., resulted in a $100 billion valuation for Rivian after the first day of trading.

Ford and Rivian end electric vehicle co-development

On November 19, 2021, Ford and Rivian announced the discontinuation of their plan to co-develop an electric vehicle, with Ford retaining a 12 percent stake in Rivian.

Rivian announces price increases for R1T and R1S

On March 1, 2022, Rivian announced price hikes of 17% for the R1T and 20% for the R1S due to semiconductor shortages and increased component costs.

Rivian reports workforce layoffs and financial challenges

In February 2023, Rivian disclosed plans to reduce its salaried workforce by 10% and projected a significant financial loss for the year. The company's struggles with cost management and meeting production targets led to a decline in investor confidence, resulting in a drop in Rivian's stock value.

Rivian adopts Tesla's NACS for electric vehicle charging

On June 20, 2023, Rivian announced plans to incorporate Tesla's North American Charging Standard (NACS) into its electric vehicles starting in 2025.

Rivian acquires Iternio, the maker of A Better Route Planner

On June 21, 2023, Rivian acquired Iternio, the Swedish company behind the popular EV route-planning app A Better Route Planner (ABRP), integrating it into its navigation system.

Rivian ends exclusivity agreement with Amazon

On November 7, 2023, Rivian announced the termination of its exclusivity agreement with Amazon, allowing the company to sell its electric delivery vans to other customers. Despite this change, Rivian reaffirmed its commitment to delivering 100,000 vans to Amazon by 2030.

Rivian 2023.50.00 Beta Release

Rivian released a beta software update version 2023.50.00 on December 20, 2023, to address specific issues with select vehicles. This update is not available to the general public.

Rivian unveils the R3 electric vehicle model

Rivian introduces a new electric vehicle model named the R3, which is described as smaller and more affordable compared to the previous R2 model.

Rivian R2 electric SUV reservations milestone

Rivian's CEO RJ Scaringe announced that the newly launched R2 electric SUV received over 68,000 reservations within the first 24 hours of its release.

Rivian unveils R3 electric crossover

Rivian surprised the industry by introducing the R3 electric crossover, a smaller and more affordable electric vehicle compared to the R2 model.

Rivian R3 Electric Crossover Design Unveiled

Rivian unveiled the design of their electric crossover vehicle, the Rivian R3, which draws inspiration from iconic rally cars such as the Audi Quattro. The R3 is expected to feature innovative features like a heat pump for improved efficiency in cold weather.

Rivian's Expansion into Commercial Vehicle Market

Rivian, the electric vehicle brand, announces its expansion into the commercial vehicle market through a new partnership with JBPCO.

Rivian and Hyundai see US EV registration growth in January

In January 2024, electric vehicle registrations in the US increased by 15%. While Ford and GM experienced a decline in EV registrations, Rivian and Hyundai witnessed significant growth, outpacing their competitors.

Rivian gains access to Tesla's Supercharger network

Rivian has gained access to Tesla's Supercharger network, and a free adapter will be provided.

Rivian offering attractive lease deals for R1T and R1S

Rivian is providing appealing lease deals for their electric vehicles, the R1T and R1S, with prices starting at $559 per month. This initiative aims to make electric camping vehicles more accessible and affordable for outdoor enthusiasts.

Electric RV and Campers

Electric vehicles, particularly RVs and campers, are revolutionizing the camping experience by offering upgraded features and sustainability. This innovation is changing the traditional camping landscape.

Rivian's Q1 EV Deliveries

Rivian's first quarter electric vehicle deliveries remained steady compared to the previous quarter, while the company initiated cost-cutting measures at its Normal, IL plant. Despite a slight decrease in deliveries from Q4, Rivian exceeded expectations set by Wall Street and reaffirmed its production guidance for the full year.

Rivian's 100,000th EV Production Milestone

Rivian achieves a significant milestone as it rolls out its 100,000th electric vehicle from the production line.

Rivian shuts down production at Normal, Illinois plant

Rivian (RIVN) officially ceased production at its Normal, Illinois plant to prepare for the next growth phase. The company is enhancing the facility to reduce expenses and enhance productivity in order to expand the brand.

Rivian Normal EV Plant Shutdown for Upgrades

Rivian (RIVN) officially closes its Normal EV plant for upgrades as the Rivian R2 model gains significant attention and interest.

Rivian R1S Becomes Fourth Best-Selling EV in the US

In the first quarter of 2024, the Rivian R1S achieved the position of the fourth best-selling electric vehicle in the United States, surpassing models like Hyundai's IONIQ 5 and Volkswagen ID.4.

Rivian R1S climbs to fourth best-selling EV in the US in Q1

In the first quarter of 2024, the Rivian R1S became the fourth best-selling electric vehicle in the United States, surpassing models like Hyundai IONIQ 5 and VW ID.4.

Rivian's 100,000th EV Production Milestone

Rivian, the EV startup, achieved a significant milestone by announcing the production of its 100,000th electric vehicle. This marks a major achievement for the company.

Launch of R2 SUV

The R2 SUV, a smaller and less-expensive model by Rivian, is scheduled to launch in June 2026. It will be produced at a new factory in Georgia.

End of the Timeline
Rivian

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