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Rivian manufactured 1,015 vehicles in 2021, says COO retired -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Rivian’s logo is visible on the new R1T electric truck, Mill Valley, California. This was taken January 25, 2020. REUTERS/Nathan Frandino/File Photograph

(Reuters. Rivian Automotive Inc. produced 1,015 cars by the end 2021 according to the Amazon-backed electric pickup truck manufacturer. This was in keeping with the company’s lower expectations.

Rivian last month stated that production was expected to be “a few hundreds” short of its 2021 goal of 1,200 vehicles due to supply chain limitations.

According to the filing, the company shipped 920 vehicles before the deadline of 2021.

Rivian also announced that Rod Copes had resigned as chief operating officer.

The company sent an email on Monday stating that Rod had begun a gradual retirement from Rivian a few months back, giving the team continuity while we move toward the production ramp.

According to the statement, Copes’ duties were taken over by the leadership team of the company.

Extended trade saw shares of Rivian fall by 4.22%, to $78. The regular session ended at $81.44, a loss of 5.6%. This week’s session saw the stock drop below its initial public sale price.

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