Rivian(Redirected from Rivian Automotive)
Rivian is an automotive technology company with research and development operations in Plymouth, Michigan, San Jose, California and Irvine, California. The firm also has a factory in Normal, Illinois.
Number of locations
|Plymouth, Michigan; San Jose, California; Irvine, California; Normal, Illinois|
|RJ Scaringe (CEO), Jiten Behl (Chief Strategy Officer), Mark Vinnels (Executive Director of Engineering), Ryan Green (Chief Financial Officer)|
Number of employees
Founded in 2009, Rivian is an automotive technology company developing products and services related to sustainable transportation. The company was founded as Mainstream Motors but changed its name to Avera Automotive before finally settling on Rivian in 2011. The company's founder and CEO is Robert 'RJ' Scaringe (born January 19, 1983) is a graduate of the Rensselaer Polytechnic Institute and Massachusetts Institute of Technology's Sloan Automotive Laboratory. Scaringe was named a "Champion of Change" by the Obama administration, an award that recognizes rising business and civic leaders.
In 2015, the company moved its headquarters from Florida to Livonia, Michigan to be closer to key suppliers. As of the of June 2018, Rivian employs 410 people across their facilities in Plymouth, San Jose, Irvine and Normal.
The company has raised upwards of $450 million through several funding rounds. Some of Rivian's investors include Sumitomo Corporation of America, Abdul Latif Jameel, and a loan from London's Standard Chartered Bank. Of Rivian's funding, $200 million comes from a debt agreement with London's Standard Chartered Bank.
In 2011, Scaringe said the company had plans to release a car with cost in the mid-US$20,000 range and gas mileage of up to 60 miles per gallon. Rivian planned to release its first production car in 2013, with other models following in 2014. These cars were never released. The company subsequently shifted its focus to autonomous electric vehicles. It plans to start production in the fourth quarter of 2019.
In December 2017, Rivian announced their intentions to build both a SUV and pick-up truck on the same platform. The truck would launch first, followed by the seven-passenger SUV.
In May 2018, Rivian stated that they planned to name their upcoming truck and SUV the A1T and A1C respectively. The A1T will be able to sprint from 0-60 in 2.8 seconds, wade through 3.6 feet of water and climb a 45-percent incline. Both vehicles will be unveiled at the LA Auto Show in November, 2018. The base trim will include a range of 200 miles and the top trim will have upwards of 400 miles.
Rivian acquired a manufacturing plant near Normal, Illinois in the former Mitsubishi Motors plant in January 2017. As of 2017, the company planned for this plant to be the primary North American location for its manufacturing. The plant has a floor area of 2.4 million square feet. The company received a $1 million grant and a five-year tax abatement from Normal contingent on meeting employment targets and investing $40.5 million over five years. Rivian also received $49.5 million in tax credits from the state government; these credits are also contingent upon meeting employment targets and investing at least $175 million into the site by 2024. Ahead of production, Rivian currently employs more than 50 people at the Normal facility.
Rivian acquired the Mitsubishi plant and its contents for $16 million. The company says the plant is in excellent condition and has a functioning paint shop, robotics, stamping machines, and other production equipment. Rivian's strategy in acquiring the plant has been likened to Tesla's acquisition of the NUMMI plant in California.
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