Rivian Automotive, Inc. / De Stock Price, News & Analysis

Rivian Automotive, Inc. (NASDAQ: RIVN) has appointed Martin Huelder as Vice President of its commercial division in Europe. Huelder brings nearly 30 years of experience from Mercedes-Benz, where he held various roles, including Head of Data Driven Sales and Retail Development. His primary focus at Rivian will be to lead the company's European commercial and go-to-market strategy. Huelder expressed enthusiasm for joining Rivian, highlighting the company's success in North America and the opportunity to expand in Europe. Rivian aims to create innovative electric vehicles and services that contribute to the transition to carbon-neutral energy.

Rivian Automotive has appointed Mike Johnson as its new Chief Information Security Officer (CISO). Johnson brings over 25 years of cybersecurity experience, previously serving as CISO at Fastly and Lyft. He has a strong background in securing networks, having also held significant roles at Salesforce. Johnson aims to enhance Rivian's cybersecurity measures amidst its growth phase, focusing on vehicle and data security.

Diane Lye, Rivian's CIO, expressed enthusiasm for Johnson's extensive track record in cybersecurity, highlighting his potential contributions to the company's mission of promoting carbon-neutral energy and transportation.

Rivian Automotive (NASDAQ: RIVN) announced its first quarter 2023 production results, producing 9,395 vehicles and delivering 7,946 vehicles from its Normal, Illinois facility. The figures align with the company's expectations, indicating it is on track to meet its annual production guidance of 50,000 vehicles. The company plans to release its Q1 2023 financial results on May 9 and will host a live webcast at 5:00 p.m. ET to discuss performance and outlook.

On April 4, Rivian's CFO Claire McDonough will engage in a fireside chat at the Bank of America Securities 2023 Global Automotive Summit. Scheduled for 1:20 PM ET, she will discuss key industry insights with John Murphy, Managing Director at Bank of America Global Research. A live webcast will be accessible here.

Rivian (NASDAQ: RIVN) focuses on advancing carbon-neutral energy through innovative electric vehicles and services.

Rivian Automotive, Inc. (RIVN) has priced a private offering of $1.3 billion in 4.625% green convertible senior notes due in 2029. The offering is set to settle on March 10, 2023. Rivian has granted purchasers an option for an additional $200 million in notes. Interest on the notes will be paid semi-annually starting September 15, 2023, with an initial conversion rate equating to 49.6771 shares per $1,000 principal, or approximately $20.13 per share, reflecting a 37.5% premium over the last trading price. The net proceeds are expected to amount to around $1.286 billion, aimed at funding green projects in line with sustainability goals.

Rivian Automotive has announced a private offering of $1.3 billion in green convertible senior notes due 2029. The offering is subject to market conditions, with an additional $200 million option for initial purchasers. The notes will be unsecured, accrue semi-annual interest, and can be converted to cash or common stock under specific circumstances. Proceeds will fund eligible green projects aligned with sustainability goals, including clean transportation and renewable energy. This offering will not be registered under the Securities Act, limiting the sale of the notes.

Rivian Automotive (NASDAQ: RIVN) has published its fourth quarter and full year 2022 financial results, accessible on its investor relations website. An audio webcast to discuss these results and provide a business update will occur today, February 28, at 2:00 PM PT / 5:00 PM ET. Rivian aims to create products that assist the transition to carbon-neutral energy, manufacturing electric vehicles and accessories for consumer and commercial markets. The company offers value-added services to enhance customer relationships throughout the vehicle lifecycle.

Rivian Automotive, Inc. (NASDAQ: RIVN) has appointed Michael Callahan as its new Chief Legal Officer, effective February 13. Callahan joins from Stanford University, where he held a prominent legal position. Previously, he served as Senior Vice President and General Counsel at LinkedIn, overseeing global legal and regulatory matters. His role at Rivian will focus on supporting the company's growth and sustainability mission, which aims to advance electric vehicles and lower carbon emissions. Callahan expressed enthusiasm about contributing to Rivian's goals during this pivotal time.

The Pathway Report, created by Kearney for Polestar (Nasdaq: PSNY) and Rivian (Nasdaq: RIVN), warns that the automotive sector is on track to exceed IPCC’s 1.5-degree limit by 75% by 2050. The report identifies urgent actions needed to cut greenhouse gas emissions, highlighting that passenger vehicles contribute 15% of global emissions. It urges a multifaceted approach, including accelerating EV adoption, enhancing renewable energy in power grids, and reducing emissions in manufacturing. The report emphasizes collective industry action and presents a financial opportunity for sustainable innovations.