Can’t Riv’ it Down: EV manufacturer Rivian layoffs hundreds of workers

Toronto, Ontario — In spite of last week’s announcement that production and deliveries would be increasing, Rivian has revealed plans to cut five percent of their workforce. According to Bloomberg News, this layoff equates to hundreds of jobs across Rivian’s 10,000-strong global workforce. This decision comes after Rivian increased staffing through certain sectors related to non-manufacturing […]

Riv’ it up : Rivian increases deliveries, Canada EVs delayed

Toronto, Ontario — Electric vehicle manufacturer Rivian has increased its Q2 delivery and production numbers following a difficult production period for the company with a loss of earnings through Q1. Rivian has announced the production of 4,401 vehicles between April 1 and June 30 2022. This number represents a 72 percent increase in production, as […]

Tuesday Ticker: May 31, 2022

Toronto, Ontario ⁠⁠— In this weekly Tuesday Ticker, Rivian sees some executive shake-ups amid an already tumultuous year, while another battery tech player sets its sights on Quebec’s cathode active materials (CAM). Do the Rivian shuffle Rivian is reorganizing its executive ranks as one of its top manufacturing officers parts ways with the EV automaker. […]

Tuesday Ticker: May 24, 2022

Toronto, Ontario ⁠— Ford throws seven million more Rivian shares up for sale while Uber tries to offset its losses in Collision Repair’s weekly Tuesday Ticker.  Red-tag item, Rivian Last week, it was reported Ford Motor Co. had offloaded eight million shares in electric vehicle startup Rivian. On Monday, May 16, the automaker sold a […]

Tuesday Ticker: May 17, 2022

Toronto, Ontario ⁠— This week, Ford ditches more than 15 million of its shares in Rivian, while a company known for car ‘vending machines’ finds itself in hard times. Rough week for Rivian Ford has offloaded more than US$400 million in Rivian shares this past week. The automaker sold eight million shares of Rivian on […]

Loosening the Leash: Ford sells eight million Rivian shares, totalling $214 million

Toronto, Ontario — Ford is shedding some of its shares in electric vehicle upstart Rivian, according to a filing to the U.S. Securities and Exchanges Commission. The legacy automaker sold eight million Rivian shares on Tuesday, an amount totalling $214 million at $26.80 per share; a relatively small offload considering Ford still holds 94 million […]

Rivian’s Ripening: EV automaker begins building Canadian service network

Vancouver, British Columba — Rivian has started building its service network in Canada as the electric vehicle maker prepares to deliver its first vehicles in the Canadian market this summer. Automotive News Canada reported Friday that Rivian has begun recruiting staff for its Vancouver service centre, though it would not elaborate on how many services […]

Tuesday Ticker: April 19, 2022

Toronto, Ontario ⁠— It’s all about automakers in this weekly Tuesday Ticker as electric vehicle stocks are shocked as analysts fret about potential Chinese COVID restrictions; Toyota delivers less-than-surprising news regarding its May 2022 production outlook and Elon Musk continues to worry investors about his mission to buy Twitter. Electric hiccups Electric vehicle stocks saw […]

Tuesday Ticker: March 29, 2022

Toronto, Ontario ⁠— In this weekly Tuesday Ticker, General Motors cooperates with authorities following a former manager’s arrest on bribery charges, while Rivian suffers another blow in market analyst predictions.  Fixed bids and bribery A former General Motors manager has been accused of taking US$3.45 million in bribes from a South Korean parts supplier, according […]