Rivian is undergoing some structural reorganisation and it is seeing its executive vice president of manufacturing engineering, Charly Mwangi, leave.
Mwangi had been a Tesla executive before he joined their rivals in the electric truck business and the new COO, Frank Klein, will be in charge of senior manufacturing and supply chain employees.
Rivian’s reorganisation covers its commercial business, which it plans to split up by separating the arm that makes delivery vans made for Amazon, from the retail side of the company that produces the R1T plug-in pickup truck and R1S sport-utility vehicle. Why?
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As Bloomberg notes, the company is undergoing these changes to ram up production for its R1T and R1S electric vehicles, which is the closest thing to rivals that Tesla face in the EV industry.
While Rivian said it made 5,000 vehicles in Q1 2022, it already has over 90,000 reservations for its in-demand R1T and R1S trucks. Note that in the last quarter mentioned, the company said that it only delivered 1,227 vehicles to customers.
Clearly, there needs to be a lot of running around to catch up with growing demand and the electric truck maker has revealed that it plans to produce 25,000 vehicles in 2022. The long term goal is, however, loftier as CEO RJ Scaringe said that he wants the company to be making at least one million vehicles every year by 2030.
Since going public with an IPO being described as the biggest ever, the company’s shares continue to tumble. It will be looking to change its fortune after these organisational changes.
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