Rivian Automotive, an EV manufacturer and outdoor recreation company, has announced financial results for both the fourth quarter of 2024 and the full calendar year. The company’s Q4 net revenue was $170,000, an increase of $604 million when compared with its Q4 2023 net loss of $606 million, on net income of $1.5 billion. Rivian… Read more »
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Rivian Upfit Program offers custom EV solutions for fleets
Shortly after announcing that it would make its electric delivery vans—originally developed in collaboration with Amazon—available to all commercial fleets, Rivian has launched the new Rivian Upfit Program for fleet customers. Upfitting is the process of customizing a chassis to create a specialized vehicle for a customer. Unlike in the consumer vehicle sphere, commercial vehicle… Read more »
Rivian opens sales of its commercial van to all US fleets
Rivian Automotive is on a roll—the company’s electric pickup and SUV are earning rave reviews, other automakers are “knocking on the door” to license Rivian’s technology, and now the company is opening up sales for the Rivian Commercial Vehicle, the platform on which Amazon based its custom electric delivery van (EDV). Amazon’s exclusivity period ended… Read more »
Other automakers “knocking on the door” to access EV tech from Rivian/VW joint venture
The joint venture between Rivian and Volkswagen could someday supply EV tech to other automakers. Developing the software that is a critical component of modern autos has proven to be a struggle for legacy automakers, including VW, but comes more naturally to an internet-era startup such as Rivian. Volkswagen plans to invest $5.8 billion in… Read more »
At Rivian’s Electrical Hardware Lab, Sandy Munro checks out the new GEN2 architecture
Munro & Associates is known for its teardowns of the latest and greatest vehicles, and CEO Sandy Munro is known for explaining technical engineering topics in an engaging, accessible style. In a new video on the Munro Live YouTube channel, Sandy pays a visit to Rivian’s Electrical Hardware Lab in California, and speaks with Vidya… Read more »
Rivian Adventure Network opens its first chargers for all EVs
US EV startup Rivian plans to launch its first next-generation Rivian Adventure Network charging locations, which allow for non-Rivian electric vehicles to charge alongside the company’s R1T pickup and R1S SUV. The sites use a new charger design to accommodate any compatible EV in North America. The first site is its Joshua Tree Charging Outpost… Read more »
Biden Administration to loan Rivian $6.6 billion to complete Georgia factory construction
The US Department of Energy will make a $6.6-billion loan available to California-based Rivian Automotive to allow the startup EV maker to complete the construction of a factory in Georgia. Construction of the $5-billion battery and assembly plant, which was first announced in 2021 and which is 40 miles east of Atlanta, was paused in… Read more »
Rivian and Volkswagen Group officially launch joint venture
German automaker Volkswagen and US EV manufacturer Rivian Automotive have announced the official start of the two companies’ joint venture. The news comes months after VW said that it would invest $5 billion in Rivian. That investment has now grown to $5.88 billion. The JV will focus its efforts on the development of electrical architecture… Read more »
Octopus Energy and Rivian partner on new home energy plan
Houston-based renewable energy company Octopus Energy has introduced a home energy program with California-headquartered EV maker Rivian. All Rivian customers in those parts of Texas where Octopus is an eligible energy provider will be offered a time-of-use energy rate plan with an overnight off-peak discount of up to 50%. “Demand flexibility is the key to… Read more »
Volkswagen to invest up to $5 billion in Rivian over the next 2 years, companies will share software
The Volkswagen Group will invest up to $5 billion in US EV maker Rivian in a complex deal under which the two companies will form an equally-owned joint venture to share EV architecture and software. As reported by Reuters, Volkswagen will immediately invest $1 billion in Rivian through a convertible note, and also pledges to… Read more »