History of Rivian in Timeline

Rivian is an American electric vehicle manufacturer established in 2009. It produces electric SUVs (R1S), pickup trucks (R1T) utilizing a unique 'skateboard' platform, and electric delivery vans (EDV). Rivian began delivering its R1T pickup in late 2021. The company also had plans to establish a proprietary charging network across the United States and Canada.

February 2019: Rivian Employed 750 People

In February 2019, Rivian employed 750 people across facilities in Michigan, Illinois, California, and the United Kingdom.

February 2019: Commercial agreement with Amazon

In February 2019, Rivian entered into a commercial agreement with its investor Amazon, Inc.

September 2019: Amazon to Purchase 100,000 Electric Delivery Vehicles

In September 2019, Amazon's Logistics division agreed to collaborate with Rivian to design, produce, and purchase 100,000 electric delivery vehicles (EDVs).

July 2020: Tesla Lawsuit

In July 2020, Tesla initiated a lawsuit against Rivian, alleging the theft of proprietary information and the poaching of Tesla employees.

March 2021: Illinois Automobile Dealers Association Lawsuit

In March 2021, the Illinois Automobile Dealers Association filed a lawsuit against Rivian and Lucid Motors regarding their plans to sell electric vehicles directly to consumers.

June 2021: R1T Shipments Delayed

In late 2020, Rivian planned to begin shipments of the R1T in June 2021. The June 2021 date later slipped to August.

September 2021: Rivian first to consumer market with fully electric pickup

In September 2021, Rivian became the first automaker to bring a fully electric pickup to the consumer market, beating industry mainstays such as GM, Ford, and Tesla.

October 2021: Rivian Began Delivering R1T to Customers

In October 2021, Rivian began delivering the R1T truck to customers.

November 10, 2021: Rivian Became a Public Company Through IPO

On November 10, 2021, Rivian became a public company through an IPO. 153 million shares were sold at an initial offering price of $78.00, valuing the company at $66.5 billion. The shares began trading on the Nasdaq under the ticker "RIVN". On its first trading day, the stock closed at $100.73 per share, valuing the company at just under $100 billion.

November 2021: Laura Schwab Lawsuit

In November 2021, Rivian's former sales and marketing vice president, Laura Schwab, filed a lawsuit against the company. She claimed she was terminated a month after raising concerns about discrimination and the company culture. She also warned of underpriced vehicles and manufacturing process not conforming to security standards.

November 19, 2021: Ford and Rivian No Longer Plan to Co-Develop an Electric Vehicle

On November 19, 2021, Ford and Rivian announced that the two automakers no longer plan to co-develop an electric vehicle. Ford announced the company would retain a 12 percent stake in Rivian, which reached a value of more than $10 billion after the IPO.

December 2021: Rod Copes Stepped Down From Rivian

In December 2021, at the same time that Rivian began to deliver its R1S SUVs, Rivian's chief operations officer, Rod Copes, stepped down and retired from the company as it began to ramp up production of its vehicles.

December 2021: R1T Named Motor Trend Truck of the Year

In December 2021, the R1T was named the Motor Trend Truck of the Year.

March 1, 2022: Rivian Announced Price Increases

On March 1, 2022, Rivian announced price increases of 17% for the R1T and 20% for the R1S, citing a shortage of semiconductors and higher costs for other components. There was immediate backlash from customers that had previously made reservations as the price hike would also affect their preorders. Rivian later apologized for the retroactive price increases and stated that the original configured price would be honored for anyone with a Rivian preorder as of the March 1 pricing announcement.

March 14, 2022: Rivian Hired Frank Klein as COO

On March 14, 2022, Rivian announced the company hired Frank Klein as its COO (chief operations officer). Klein began on June 1, 2022.

March 2022: Rivian Included in TIME's List of 100 Most Influential Companies

In March 2022, Rivian made it to TIME's List of 100 Most Influential Companies of the year 2022.

June 1, 2022: Frank Klein Began as COO

On March 14, 2022, Rivian announced the company hired Frank Klein as its COO (chief operations officer). Klein began on June 1, 2022.

July 27, 2022: Rivian Announces Workforce Reduction

On July 27, 2022, Rivian announced it would reduce its workforce by 6% in response to high inflation, rising interest rates, and an increase in parts prices.

August 2022: George Soros Sold Shares of Rivian

In August 2022, regulatory filings revealed that investor George Soros sold roughly $8.5 million of shares of the company.

August 2022: Rivian to eliminate the R1T Explore package

In August 2022, the company announced it would eliminate the base model of the R1T, called the Explore package, due to low customer demand, and would emphasize the Adventure model. The company said this would help it "streamline" its supply chain issues and deliver as many vehicles as possible.

September 2022: Rivian and Mercedes-Benz Group Plan Joint Venture

In September 2022, Rivian signed an MoU with Mercedes-Benz Group to establish a joint venture to invest in and operate a factory in Europe, producing large commercial electric vans starting in a few years. The facility will have a common assembly line to produce a different design for each company.

October 2022: Rivian Issued a Voluntary Recall

After the company received seven reports of loose torque bolts that did not result in injury, in October 2022, Rivian issued a voluntary recall of 13,000 vehicles.

November 2022: Rivian Delivered 1,000 EDVs to Amazon

In November 2022, Rivian announced that it had delivered 1,000 EDVs to Amazon.

December 2022: Rivian and Mercedes-Benz Group Partnership Plan Ceased

Rivian said its planned partnership with Mercedes-Benz Group would not go forward with this plan in December 2022 but stated that future collaborations may still be possible.

June 20, 2023: Rivian to Incorporate Tesla's NACS Charging Standard

On June 20, 2023, Rivian announced that it would incorporate Tesla's electric vehicle charging standard, the North American Charging System (NACS) into its R1T trucks and R1S SUVs in 2025, as well as in its upcoming R2 platform. As early as the second quarter of 2024, Rivian owners may be able to use adapters to connect to Tesla's Supercharger network.

October 2023: New Georgia Manufacturing Facility Announced

In October 2023 Rivian announced plans to open a new Georgia manufacturing facility with an annual production capacity of 400,000 units in early 2024.

October 2023: Rivian Ended Exclusivity Deal With Amazon

In October 2023, the company also ended the exclusivity deal it had with Amazon, allowing Rivian to supply other commercial customers with its electric delivery vehicles.

December 2023: AT&T to Take Delivery of Rivian Trucks for Trial

In December 2023 telecommunications company AT&T announced it would take delivery of the trucks from Rivian as part of a trial process for its fleet.

February 21, 2024: Rivian Announced Layoffs

On February 21, 2024, Rivian announced it would be laying off 10% of its salaried workers beginning on February 23, 2024.

March 7, 2024: Rivian Unveiled the R2 SUV and R3

On March 7, 2024, Rivian unveiled the R2 SUV that starts from $45,000, much less than current models, and the R3, that will cost even less than the R2.

March 2024: Georgia Factory Project Put on Hold

In March 2024, the project to open a factory in Georgia was put on hold for financial reasons.

June 25, 2024: Volkswagen Group to Invest in Rivian

On June 25, 2024, Volkswagen Group announced its intention to invest up to $5 billion in Rivian. The investment will commence with an initial $1 billion, with an additional $4 billion anticipated by 2026. This commitment includes $1 billion slated for each of 2025 and 2026, followed by an additional $2 billion in 2026 earmarked for a prospective joint venture aimed at developing electrical architecture and software technology.

July 29, 2024: German Authority Approved Joint Venture

It was reported on July 29, 2024, that Germany's competition authority gave green light to the form of the joint venture by two companies.

November 2024: Georgia Factory Project Restarted With Federal Loan

In March 2024, the project to open a factory in Georgia was put on hold for financial reasons. It was started up again in November 2024 when the federal government under the Biden Administration announced a $6 billion loan for the factory.

2024: Safety Violations at Rivian's Factory

According to Bloomberg in 2024, Rivian's sole factory has accumulated more initially "serious" U.S. safety violations than any other automaker since the beginning of the previous year.