Rivian

An opposition group reportedly hired more legal help this week in its fight against the Rivian vehicle plant's construction while the Joint Development ...

Because of this bias, and his wife’s leadership role with the opposition group, there is a clear conflict that clouds his ability to make an unbiased legal decision about this matter. “Morgan County has approved this arrangement for numerous other projects outside of Stanton Springs as well,” Sheidler said. "Unfortunately, his behavior created an intimidating atmosphere for other board members by empowering unruly disruption by many of his companions from the opposition group. “We expect this project will continue to move forward as planned. "While we cannot disclose strategy please know that the legal team is working diligently on our behalf and MLSWP is pleased to make this announcement," Wilson said. The announcement followed two days of action by the JDA to finalize an economic development agreement with the state and Rivian Tuesday; and to gain the Morgan County Board of Tax Assessors' Wednesday certification of a lease plan that was part of the agreement and states the publicly-owned land would not be taxable.

After a sky-high stock launch and a raft of big-name investors, Rivian has struggled to build vehicles and its share price has tumbled.

At the end of the year, that was down to $103.69. But by March of this year, Rivian said supply chain issues had dramatically cut its production, and it would be able to make only 25,000 vehicles this year. That April, Ford said it was investing $500 million. The share price hit a peak of $172.01 on Nov. 16. It was founded by RJ Scaringe, who earned his Ph.D. from the Massachusetts Institute of Technology in 2009. The stock tumbled, closing the first quarter at $50.24. Amazon and Ford thus lost roughly half the value of their investment in a quarter.

The EV stock now trades down 68% from market close on the day of its IPO last year.

The company is rapidly scaling up production, but investors should keep an eye on the ratio between vehicles produced and vehicles delivered in order to get a sense for the levels of demand the business is seeing. Lately, the EV specialist is making the news because big declines for its share price have led to big losses showing up in the earnings reports of the aforementioned backers. Johnson increased his target for the company's expected loss per share to $1.35 from $1.13 due to indications that the company's production of vehicles was coming in significantly ahead of current demand.

I'm so steeped in the BEV (Battery Electric Vehicle) story that I forget that there are a lot of investors for whom an electric car might as well be a vehicle ...

E-commerce giant Amazon joined Detroit-based automaker Ford in reporting significant losses from an investment in electric vehicle startup Rivian, ...

“We have incurred net losses since our inception, including net losses of $0.4 billion, $1.0 billion, and $4.7 billion for the years ended December 31, 2019, 2020, and 2021, respectively,” Rivian said in the filing. Scaringe also said recently he believes some suppliers are holding out on Rivian, as it is a young and relatively unproven company. “We believe that we will continue to incur operating and net losses in the future while we grow, including following our initial generation of revenues from the sale of our vehicles, which began with the R1T in September 2021 and the R1S and EDV in December 2021. Amazon has stood by Rivian for several years, investing billions in the company and even ordering 100,000 electric delivery vans from the automaker in 2019. Rivian has started delivering the vans to Amazon, as well as R1T pickups and R1S SUVs, it said last quarter. Currently trading at around $31.77, Rivian’s losses come as the automaker struggles to ramp its vehicles during supply chain shortages.

It's nearly impossible to find a new Rivian R1T truck to buy. So, why not check out this rental R1T on Turo?

The Launch Edition has a large battery pack, while the Adventure and Explore both come with the standard battery packs. The Explore has most of the goods, too, except it doesn’t come with the Rivian floor mats and only has a matte black interior. The big difference between the Launch Edition and the other R1ts is the battery pack. The four motors in the Launch Edition make it quicker, but the Adventure and Explore aren’t considered slow. One of the hottest trucks to buy, or try to buy, right now is a Rivian R1T. Rivian trucks are hot. For $447/day you can rent the Rivian R1T and find out for yourself if the trucks are worth the more than $130,000 people are buying them for on auction sites.

Rivian's recent stock performance may have burned a hole in many a retail investor portfolio. It's also burned a big hole in Ford, and now Amazon's, ...

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E-commerce giant Amazon and automaker Ford both have stakes in a company that is becoming a financial headache.

"Our initial deliveries for the R1T and R1S were delayed, and our production ramp is taking longer than originally expected due to a number of reasons," Rivian said early April. Another point: Companies in their earnings reports must update the fair values of the securities they hold. No surprise, then, that the shares of Amazon and Ford have also been hit. The market capitalization at Rivian has shrunk by $63.4 billion, to $28.2 billion, in this four-month period. Rivian was founded in 2009 and went public in 2021. J.P Morgan analyst Ryan Brinkman asked Farley during the earnings' call. The industry points to several factors, but in particular auto-supply chains remain messy. Amazon, which is forever building out its logistics network, wants to make sure it stays ahead in the race for fast product delivery. "A net loss of $3.1 billion was primarily attributable to a mark-to-market loss of $5.4 billion on the company’s investment in Rivian. Adjusted earnings before interest and taxes were $2.3 billion," Ford said. "Are you maybe more inclined to retain some or all of the stake given the recent decline in Rivian shares?" Ford, for its part, posted a net loss of $3.1 billion from January to March. In the first three months of 2021, the maker of the hugely popular F-150 pickup had posted net income of $2.3 billion. Amazon owned 17.74% of Rivian as of Dec. 31 and Ford owned 11.42%, according to documents filed with the Securities and Exchange Commission.