Trade Rivian Automotive, Inc. - RIVN CFD

Rivian Automotive Inc. Company profile

Rivian Automotive (RIVN) is an electric vehicle (EV) manufacturer headquartered in California, US.

The company was founded in 2009 by RJ Scaringe as Mainstream Motors before being renamed Rivian. The company focuses on designing, developing and manufacturing electric vehicles as well as related software, propulsion, battery systems, supply chains, logistics and IT systems.

In 2018, Rivian announced that it will be working to create an electric pickup truck and an SUV. A number of major companies have invested in Rivian, including Ford (F), Cox Automotive and Amazon (AMZN). 

As of May 2022, the company had launched its R1T and R1S vehicles. R1T is the first ever electric pickup truck. Customer deliveries began in September 2021. R1S, the company’s electric sports utility vehicle (SUV), is expected to start customer deliveries later in 2022. 

In addition, Rivian develops commercial vans for businesses, sells wall chargers, merchandise and a number of car accessories. The company operates FleetOS, a centralised fleet management subscription platform.

In late April 2022, Rivian partnered with ClearLoop, a Silicon Ranch company that works with businesses that seek to reclaim their carbon footprints through solar energy. The company aims to achieve carbon neutrality across its entire business by 2032. 

Rivian went public on the Nasdaq stock exchange on 10 November 2021 with an initial public offering (IPO) of $78 a share under the ticker symbol RIVN.