Rivian

Rivian Automotive, Inc. is an American electric vehicle (EV) manufacturer headquartered in Irvine, California, with additional facilities in Normal, Illinois, and Plymouth, Michigan. Founded in 2009 by RJ Scaringe, the company originally focused on developing high‑performance electric sports cars before shifting to a broader market strategy centered on electric trucks and SUVs.

The first production models, the R1T pickup and the R1S sport‑utility vehicle, were unveiled in 2018 and entered limited delivery in 2021. Both vehicles feature a skateboard chassis that houses the battery pack, drive units, and suspension, allowing for a flat floor and flexible interior configurations. As of 2024, Rivian offers multiple battery capacities, with ranges exceeding 300 miles on a single charge for most trims, and supports fast charging through a network of DC fast‑charging stations.

Rivian’s business model includes direct sales to consumers via an online platform and company‑owned stores, bypassing traditional dealership networks. The company also supplies electric delivery vans to Amazon, a major early investor and customer; more than 100,000 Amazon-branded vans are slated for deployment across North America and Europe by the mid‑2020s.

Financially, Rivian went public in November 2021, raising approximately $12 billion in its initial public offering. The company has received significant capital from investors such as Amazon, Ford Motor Company, and T. Rowe Price, while also leveraging government incentives and tax credits for EV production. Despite early production challenges and a volatile share price, Rivian reported its first profitable quarter in early 2024, driven by expanding deliveries and cost‑reduction initiatives.

Rivian continues to develop additional vehicle platforms, autonomous driving technology, and a proprietary software ecosystem aimed at over‑the‑air updates and vehicle‑to‑grid services. Its long‑term goal is to become a major player in the global transition to sustainable transportation.