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Search resuls for: "RJ Scaringe"


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☆ Rivian is slashing 10% of staff. Read the email it sent to its workers.
  + stars: | 2024-02-21 | by ( Grace Eliza Goodwin | Grace Kay | ) www.businessinsider.com   time to read: +5 min
Despite doubling its EV deliveries in 2023, Rivian reported a $5.4 billion loss for the year. In an email to Business Insider, Rivian did not specify exactly how many salaried staff members would be cut, but said that it has 16,700 total employees, including both salaried and hourly workers. Here's the full email that Rivian CEO RJ Scaringe sent out to staff on Wednesday, announcing that layoffs would be coming on Thursday. Tomorrow, we're reducing our salaried employees by approximately 10% along with a limited number of non-manufacturing hourly employees. Also, anyone impacted tomorrow will still be eligible for our FY'23 bonus.
Persons: Rivian, Claire McDonough, Jacob Bourne, Bourne, Tesla, Scaringe, RJ Scaringe Organizations: Bloomberg, Business, Intelligence, Ford, General Motors, Dealers
☆ Rivian CEO RJ Scaringe goes one-on-one with Jim Cramer
  + stars: | 2024-01-26 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRivian CEO RJ Scaringe goes one-on-one with Jim CramerRivian CEO RJ Scaringe joins 'Mad Money' host Jim Cramer to talk the state of the EV transition in the U.S., investment in charging infrastructure, consumer adoption of EVs and more.
Persons: RJ Scaringe, Jim Cramer Locations: U.S
☆ Investing in charging network will 'give customers peace of mind', says Rivian CEO
  + stars: | 2024-01-26 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvesting in charging network will 'give customers peace of mind', says Rivian CEORivian CEO RJ Scaringe joins 'Mad Money' host Jim Cramer to talk the state of the EV transition in the U.S., investment in charging infrastructure, consumer adoption of EVs and more.
Persons: RJ Scaringe, Jim Cramer Locations: U.S
☆ Rivian CEO says EV market suffers from a lack of choice
  + stars: | 2024-01-26 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Rivian CEO RJ Scaringe on Friday discussed the electric vehicle market with CNBC's Jim Cramer, saying EV automakers need to give consumers a wider variety of models to choose from. "What I think we're witnessing today is a lack of choice," Scaringe said. Rivian is trying to broaden its offerings with a new line of R2 vehicles, which Scaringe will be smaller and less expensive than current Rivian models. Even Tesla , one of the few profitable EV companies, cut costs last year, reducing prices of new cars by 20%. But Scaringe said he's confident the world will eventually make a lasting shift to EVs, saying government policies will drive that change.
Persons: RJ Scaringe, CNBC's Jim Cramer, Scaringe, Rivian, Tesla, he's Organizations: EV, Biden Locations: U.S
☆ Another sign that the future of EV buying is leasing: Rivian leases its $73,000 truck
  + stars: | 2023-11-28 | by ( Tom Carter | ) www.businessinsider.com   time to read: +3 min
Rivian has made its R1T electric pickup available to lease in 14 US states. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWould-be EV drivers have turned to leasing as a cheaper way to try before they buy, especially considering the high price of many electric vehicles . The Cybertruck, however, will pose a fresh challenge to Rivian's R1T pickup. The futuristic Tesla pickup is set to launch on November 30 after years of hype, with over 2 million people preordering the electric pickup .
Persons: Rivian, Elon Musk's, —, Tesla's, — Tesla's, RJ Scaringe, it's Organizations: Elon, Elon Musk's Cybertruck, Service, CNBC, Leasing, Ford, Tesla, Rivians, GQ Locations: Arizona , California , Colorado , Florida, Georgia , Massachusetts, Michigan , Missouri , New Jersey , New York , Nevada , Pennsylvania, Texas, Washington
☆ Rivian CEO Scaringe assumes direct responsibility for product development
  + stars: | 2023-11-20 | by ( Abhirup Roy Bhanvi Satija | Abhirup Roy | Bhanvi Satija | ) www.reuters.com   time to read: +2 min
Nov 20 (Reuters) - Rivian Automotive (RIVN.O) said on Monday that CEO RJ Scaringe would directly oversee all product development effective immediately as the electric-vehicle maker gears up to unveil and launch its smaller and cheaper vehicle family. Chief Product Development Officer Nick Kalayjian would move to the role of executive vice president, vehicle engineering and propulsion before transitioning to an advisory role, the company said. "It's a big year for product for Rivian, so RJ is doubling down on the introduction of our new technologies in 2024 and the design and development of R2," a spokesperson for Rivian told Reuters. The company's product reporting structure will include software, autonomy, design, vehicle, electrical, propulsion and programs categories, Rivian said. "I know that (Scaringe) spending more time working with our product teams will create significant value for all of us and our shareholders," Kalayjian, who joined Rivian in 2020, said in another internal email seen by Reuters.
Persons: RJ Scaringe, Nick Kalayjian, Rivian, Nick, Scaringe, Tesla, Elon Musk, Kalayjian, Abhirup Roy, Bhanvi, Shilpi Majumdar, Bill Berkrot Organizations: Rivian, RJ, Reuters, General Motors, Ford, Thomson Locations: Rivian, San Francisco, Bengaluru
☆ Rivian CEO RJ Scaringe on Q3 beat: Continue to see tremendous amount of excitement for our products
  + stars: | 2023-11-08 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRivian CEO RJ Scaringe on Q3 beat: Continue to see tremendous amount of excitement for our productsCNBC’s Phil LeBeau and Rivian CEO RJ Scaringe join 'Squawk Box' to discuss the company's quarterly earnings results, where the majority of buyers are coming from, growth forecast, competition in the EV truck market, and more.
Persons: RJ Scaringe, Phil LeBeau Organizations: EV
☆ Rivian raises full-year production forecast, shares rise
  + stars: | 2023-11-07 | by ( Abhirup Roy Akash Sriram | Abhirup Roy | Akash Sriram | ) www.reuters.com   time to read: +4 min
An electric pick-up truck is pictured at the Rivian Automotive Inc facility in Costa Mesa, California, U.S.,November 1, 2023. Smaller rival Lucid (LCID.O) cut its production forecast on Tuesday "to prudently align with deliveries", sending its shares down 3%. Last month, it reported third-quarter deliveries above market expectations. The company reported a net loss of $1.37 billion, compared with a loss of $1.72 billion a year earlier. Its third-quarter production fell nearly 30% to 1,550 vehicles.
Persons: Mike Blake, Tesla, Elon Musk, I'm, RJ Scaringe, Scaringe, Rivian, Alec Lucas, Akash Sriram, Zaheer Kachwala, Abhirup Roy, Krishna Chandra Organizations: Rivian Automotive Inc, REUTERS, Rivian, Reuters, Global, Saudi Arabia's Public Investment Fund, Amazon, Wall, Thomson Locations: Costa Mesa , California, U.S, Bengaluru, San Francisco
☆ Rivian's bond issue does not reflect concerns around EV maker's financial health -CEO
  + stars: | 2023-10-17 | by ( Abhirup Roy | ) www.reuters.com   time to read: +2 min
[1/2] Rivian CEO RJ Scaringe speaks at a press event at the Amazon Logistics Facility in Chicago, Illinois, U.S. July 21, 2022. "We don't control the macro economic environment, we cannot control political conflict, and those are real risks that exist not just specific to Rivian," Scaringe said in an interview. Scaringe declined to comment on the production target as the company is set to announce results early next month. Despite supply chain visibility improving, the guidance baked in some lingering risks, Scaringe had told Reuters in August while raising its target by 2,000 vehicles. Rivian's cash balance as of Sept. 30 was estimated to be at $9.1 billion, down from $10.2 billion in June.
Persons: RJ Scaringe, Jim Vondruska, Rivian, Scaringe, Tesla, Abhirup Roy, Jonathan Oatis, David Gregorio Our Organizations: Amazon Logistics, REUTERS, FRANCISCO, Reuters, Thomson Locations: Chicago , Illinois, U.S, Irvine , California, San Francisco
☆ Rivian CEO RJ Scaringe: Ramp of our production plant is key to profitability as a business
  + stars: | 2023-10-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRivian CEO RJ Scaringe: Ramp of our production plant is key to profitability as a businessCNBC’s Phil LeBeau and Rivian CEO RJ Scaringe join 'Squawk Box' to discuss company's Q3 delivery results, after the EV automaker reported better than expected deliveries, plans to bring down loss per vehicle, cost concerns, and more.
Persons: RJ, Phil LeBeau, RJ Scaringe Organizations: EV
☆ Rivian CEO on raising EV production: Tremendous levels of predictability across our supply base
  + stars: | 2023-08-09 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRivian CEO on raising EV production: Tremendous levels of predictability across our supply baseCNBC’s Phil LeBeau and Rivian CEO RJ Scaringe join 'Squawk Box' to discuss the company's quarterly earnings results, which reported a loss for the second quarter that was narrower than expected and raised its production guidance for the full year, rest of year outlook, and more.
Persons: Phil LeBeau, RJ Scaringe
☆ Tesla challenger Rivian's market value almost doubled in 2 weeks as its stock price hit a 2023 high
  + stars: | 2023-07-11 | by ( Joseph Wilkins | ) www.businessinsider.com   time to read: +2 min
Rivian's stock has been on fire lately, hitting the highest levels in 2023 this week. The EV maker's market capitalization almost doubled in two weeks to reach $23.2 billion on Monday. Wedbush Securities has upgraded Rivian's price forecast from $25 to $30 as a show of confidence in the firm. But on Monday, the shares hit a 2023 high of $26.61, with the price surging almost 100% from two weeks earlier. In other terms, Rivian's market capitalization almost doubled in the two weeks through Monday to $23.2 billion.
Persons: Rivian, Dan Ives, RJ Scaringe Organizations: EV, Wedbush Securities, Service, Wall, Bloomberg, Amazon Locations: Wall, Silicon
☆ Tesla stock is on track for the biggest 2-month surge since 2020 as the EV maker bags more charging deals
  + stars: | 2023-06-21 | by ( Zahra Tayeb | ) www.businessinsider.com   time to read: +2 min
Tesla stock is on track for the biggest two-month rally since 2020 as the company secures more charging deals. The shares have surged almost 60% since end-April, buoyed by the EV maker' collaborations with GM, Ford, and Rivian. Tesla also bagged another win after Texas approved the company's charging plugs as the state's industry standard. Simultaneously, Texas said it would mandate Tesla's charging plugs as the standard for the state's electric vehicle charging companies, according to Reuters. In recent weeks, the carmaker announced partnerships with General Motors and Ford, allowing both companies to use Tesla's charging stations by 2024.
Persons: Tesla, —, Elon, Rivian, RJ Scaringe, Dan Ives, bullishness Organizations: GM, Ford, Texas, Service, EV, Tesla, American, Adventure, Reuters, General Motors, Federal Reserve Locations: , Texas, China
☆ Rivian acquires route planning app maker Iternio - CEO
  + stars: | 2023-06-21 | by ( Abhirup Roy Akash Sriram | Abhirup Roy | Akash Sriram | ) www.reuters.com   time to read: +2 min
SAN FRANCISCO, June 21 (Reuters) - Rivian (RIVN.O) has acquired Swedish EV route planning app maker Iternio to add its technology to its electric pickups and sport utility vehicles, as well use its data to better expand its own charging network, its CEO told Reuters on Wednesday. Rivian CEO RJ Scaringe did not disclose the value of the deal but said it was closed in the first quarter. Scaringe said Rivian would invest in improving and growing ABRP as a stand-alone app for users of other EVs and integrate Iternio's technology into its mobile app and in-vehicle navigation system. Iternio was founded in 2018 and operates two lines of business: the ABRP app, which is the consumer-facing side, and a back end where it provides routing data services for other entities. Reporting by Abhirup Roy in San Francisco and Akash Sriram in Bengaluru; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.
Persons: RJ Scaringe, Scaringe, Rivian, Iternio, Tesla, Abhirup Roy, Akash Sriram, Jonathan Oatis Organizations: FRANCISCO, Swedish EV, Reuters, EV, Thomson Locations: Swedish, North America, Europe, San Francisco, Bengaluru
☆ EV maker Rivian to adopt Tesla's charging standard
  + stars: | 2023-06-20 | by ( Abhirup Roy | ) www.reuters.com   time to read: +4 min
SAN FRANCISCO, June 20 (Reuters) - Electric vehicle maker Rivian (RIVN.O) said on Tuesday it has agreed to adopt Tesla's (TSLA.O) charging standard, giving Rivian customers access to the biggest U.S. charging network and adding momentum to Tesla's bid to set the industry standard. Rivian also said it will make a Tesla-style charging port standard on its vehicles starting in 2025. While other automakers get access to Tesla's charging network, Tesla stands to profit from selling power to a bigger group of electric vehicle drivers. Tesla's charging standard had been proprietary until November, when it made the design and specifications public and rebranded the technology as the North American Charging Standard (NACS). "It's great to see the industry coming together to adopt the North American Charging Standard," Tesla's senior director of charging infrastructure, Rebecca Tinucci, said in a statement.
Persons: Rivian, Tesla, paring, Dan Ives, Tesla's, Mike Blake, RJ Scaringe, Joe Biden's, Rebecca Tinucci, Abhirup Roy, Akash Sriram, Kevin Krolicki, Will Dunham, Stephen Coates Organizations: FRANCISCO, General Motors, Ford, carmaker, EV, Wedbush Securities, Reuters, U.S . Department of Energy, REUTERS, Mike Blake Services, American, ABB, America, Toyota, Nissan, Thomson Locations: United States, Canada, Irvine , California, Carlsbad , California, U.S, Swiss, China, Japan, San Francisco, Bengaluru
☆ Exclusive: EV maker Rivian to adopt Tesla's charging standard
  + stars: | 2023-06-20 | by ( Abhirup Roy | ) www.reuters.com   time to read: +4 min
REUTERS/Mike BlakeSAN FRANCISCO, June 20 (Reuters) - Electric vehicle maker Rivian (RIVN.O) said it has agreed to adopt Tesla's (TSLA.O) charging standard, giving customers access to the biggest U.S. charging network and adding momentum to Tesla's bid to set the industry standard. While other automakers get access to Tesla's charging network, Tesla stands to profit from selling power to a bigger group of electric vehicle drivers. Tesla's charging standard had been proprietary until November, when it made the design and specifications public and rebranded the technology as the North American Charging Standard (NACS). "It's great to see the industry coming together to adopt the North American Charging Standard," Tesla's senior director of charging infrastructure, Rebecca Tinucci, said in a statement. China, the world's largest market for electric vehicles, has its own charging standard.
Persons: Mike Blake, FRANCISCO, Rivian, Tesla, Tesla's, RJ Scaringe, Biden, Rebecca Tinucci, Abhirup Roy, Kevin Krolicki, Stephen Coates Organizations: REUTERS, General Motors, Ford, carmaker, U.S . Department of Energy . Services, American, ABB, America, Toyota, Nissan, Thomson Locations: Carlsbad , California, U.S, United States, Canada, Irvine , California, Swiss, China, Japan, San Francisco
☆ Exclusive: Exclusive: EV maker Rivian to adopt Tesla's charging standard
  + stars: | 2023-06-20 | by ( Abhirup Roy | ) www.reuters.com   time to read: +4 min
REUTERS/Mike BlakeSAN FRANCISCO, June 20 (Reuters) - Electric vehicle maker Rivian (RIVN.O) said it has agreed to adopt Tesla's (TSLA.O) charging standard, giving customers access to the biggest U.S. charging network and adding momentum to Tesla's bid to set the industry standard. While other automakers get access to Tesla's charging network, Tesla stands to profit from selling power to a bigger group of electric vehicle drivers. Tesla's charging standard had been proprietary until November, when it made the design and specifications public and rebranded the technology as the North American Charging Standard (NACS). "It's great to see the industry coming together to adopt the North American Charging Standard," Tesla's senior director of charging infrastructure, Rebecca Tinucci, said in a statement. China, the world's largest market for electric vehicles, has its own charging standard.
Persons: Mike Blake, FRANCISCO, Rivian, Tesla, Tesla's, RJ Scaringe, Biden, Rebecca Tinucci, Abhirup Roy, Kevin Krolicki, Stephen Coates Organizations: REUTERS, General Motors, Ford, carmaker, U.S . Department of Energy . Services, American, ABB, America, Toyota, Nissan, Thomson Locations: Carlsbad , California, U.S, United States, Canada, Irvine , California, Swiss, China, Japan, San Francisco
☆ Rivian results charge up shares amid EV startup gloom
  + stars: | 2023-05-10 | by ( Akash Sriram | Thomson Reuters | Akash Reports On Technology Companies In The United States | ) www.reuters.com   time to read: +2 min
The company looked set to add nearly $800 million to its market valuation, based on premarket stock prices, after it reiterated its annual production forecast and beat quarterly revenue estimates. Davidson, who was among the 10 analysts that lowered their price target on a stock that has declined 25% this year. Reuters GraphicsNonetheless, the company is expected to benefit from a pullback in commodity prices and easing supply chain issues. "As sagging EV commodity prices, technology improvements, and supply chain loosening positively impact operations, we see a logical path to positive gross margins next year," Canaccord Genuity analysts said. Reporting by Akash Sriram in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.
☆ Rivian CEO RJ Scaringe on Q1 earnings, road to profitability
  + stars: | 2023-05-10 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRivian CEO RJ Scaringe on Q1 earnings, road to profitabilityRivian founder and CEO RJ Scaringe and CNBC's Phil LeBeau join 'Squawk Box' to discuss the company's quarterly earnings results, supply chain challenges, pricing strategy, and more.
☆ Rivian reports a narrower-than-expected quarterly loss, reaffirms EV production target
  + stars: | 2023-05-09 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com   time to read: +2 min
Electric vehicle maker Rivian Automotive on Tuesday reported a first-quarter loss that was narrower than expected and said it's still on track to meet a 50,000-vehicle production target for 2023. Here's how the company did as per consensus analyst estimates by Refinitiv:Loss per share: $1.25 adjusted vs. $1.59 expected. Revenue: $661 million vs. $652.1 million expected. Rivian's net loss narrowed to $1.35 billion, or $1.45 per share, from $1.59 billion, or $1.77 per share, during the year-earlier period. Rivian said on April 3 that it built 9,395 EVs in the first quarter and delivered 7,946 vehicles to customers.
☆ Jeep's CEO doesn't think there are enough raw materials on earth to meet electric-car demand
  + stars: | 2023-03-29 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com   time to read: +4 min
Automakers are already racing to secure limited raw materials. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyStellantis' CEO doesn't think there are enough raw materials readily available to meet electric vehicle needs. "The affordability is not there, because the raw materials are scarce and very expensive, and I would add very volatile," Tavares said. Tesla CEO Elon Musk has emphasized just how much of a challenge getting these materials will be for EV-makers. Even mining executives have expressed concern that demand for these materials continues to outstrip the current available supply.
☆ Rivian is forcing some customers to wait years for their vehicle deliveries — and it risks alienating them at a critical time in its fight to become the next Tesla
  + stars: | 2023-03-01 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com   time to read: +6 min
Rivian runs the risk of alienating customers who have been waiting years for their vehicles. He's hedged his bet on Rivian with orders for the Tesla Cybertruck and the electric Ram 1500. Some feel embarrassed by their early support of Rivian while their wait times increase to nearly half a decade. Rivian has previously said timing of deliveries is "based on a number of factors, including delivery location, configuration and original preorder or reservation date." Are you a current or former Rivian employee, Rivian vehicle owner, or Rivian order holder?
☆ How Rivian went from Wall Street darling to another struggling EV startup
  + stars: | 2023-02-28 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com   time to read: +8 min
Another Rivian customer told Insider they placed a reservation last July. A Rivian spokesperson told Insider that timing is "based on a number of factors, including delivery location, configuration and original preorder or reservation date." The Rivian spokesperson told Insider Scaringe's language refers to "how we deliver over the long term." An employee laid off in Rivian's first round of cuts last summer told Insider it felt like growing pains many other companies have experienced. Are you a current or former Rivian employee, Rivian vehicle owner, or Rivian order-holder?
☆ It's not just the chip shortage — other supply chain disruptions are wreaking havoc on automakers and helping keep prices high
  + stars: | 2023-02-21 | by ( Alexa St. John | ) www.businessinsider.com   time to read: +4 min
The pandemic, the shift to EVs, and supply chain problems are all to blame. GM's Bowling Green plant will stop Corvette output this week due to a "parts supply issue." Despite tailwinds like huge profits, high demand, and low inventory, automakers are bracing themselves for more disruptions. The relationship between automakers and their parts companies has never been perfect, but it's especially challenging of late even as the two remain codependent. Now, parts companies are struggling amid macroeconomic concerns, inflation, in addition to the transition to EV components (or risking becoming defunct), and that will impact the automakers they supply to.
☆ Former Wall Street darling Rivian suddenly has a lot to prove
  + stars: | 2023-02-11 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com   time to read: +8 min
Another Rivian customer told Insider they placed a reservation last July. A Rivian spokesperson told Insider that timing is "based on a number of factors, including delivery location, configuration and original preorder or reservation date." The Rivian spokesperson told Insider Scaringe's language refers to "how we deliver over the long term." An employee laid off in Rivian's first round of cuts last summer told Insider it felt like growing pains many other companies have experienced. Are you a current or former Rivian employee, Rivian vehicle owner, or Rivian order-holder?
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