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CNBC today:
Like Tesla, Rivian remains a non-unionized automaker for now. The company’s filing acknowledged that this status could change and impact labor costs.
Rivian is also following in Tesla’s vertically integrated footsteps. This means it sells its electric vehicles directly to customers rather than through franchised dealerships, provides its own vehicle service and repairs, and is investing in a network of charging stations for Rivian owners to use.
Amazon and Ford each own more than 5% of the company.
- Rivian Automotive, electric vehicle maker backed by Amazon and Ford, filed for an initial public offering on the Nasdaq.
- Its paperwork shows Rivian had a $994 million net loss on zero revenue in the first six months of 2021.
- In September 2021, Rivian beat Tesla, GM and Ford to the market with an electric pickup, the R1-T, which has received glowing early reviews.
Like Tesla, Rivian remains a non-unionized automaker for now. The company’s filing acknowledged that this status could change and impact labor costs.
Rivian is also following in Tesla’s vertically integrated footsteps. This means it sells its electric vehicles directly to customers rather than through franchised dealerships, provides its own vehicle service and repairs, and is investing in a network of charging stations for Rivian owners to use.
Amazon and Ford each own more than 5% of the company.
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