Aria Kashani’s Post

"This was a difficult decision, but a necessary one to support our goal to be gross margin positive by the end of the year." - Rivian Spokesperson Rivian's recent layoffs underscore its commitment to financial viability amid market challenges. Learn more about the company's maneuvers and future plans⬇️ #Rivian #ElectricVehicles #AutomotiveIndustry #BusinessStrategy #AutobodyNews

🔌 "Rivian's Rocky Road: EV Demand Dips, Layoffs Loom" 🚗 Rivian, the electric vehicle (EV) manufacturer, is set to cut 10% of its salaried workforce amidst a slowdown in EV demand. Despite doubling its EV production in 2023, the company reported a staggering $5.4 billion loss for the year. Key - Rivian's 2023 Q4 financial report reveals a $5.4 billion loss despite increased production. - The company plans to produce around 57,000 vehicles in 2024, falling short of analysts' forecast of 80,000. - This marks Rivian's third round of layoffs in 18 months, with previous cuts in February 2023 and July 2022. Rivian's CFO, Claire McDonough, anticipates a "low single digit" growth in vehicle deliveries for 2024. The company, which currently employs 16,700 people, did not specify the exact number of layoffs. The luxury EV market is becoming saturated, and Rivian is aiming for greater affordability with its upcoming R2 SUV. However, high interest rates and a price war with Tesla are putting pressure on the EV market. Rivian's CEO, RJ Scaringe, acknowledged the impact of "existing economic and geopolitical uncertainties" on the business. The company is one of many automakers scaling back their EV plans due to slowing demand. #Rivian #ElectricVehicles 🌏

Ahead of the curve, and surging past stormy seas, Rivian recently dropped some electrifying news 💡. Despite a series of layoffs and losses, they've unveiled plans for yet another groundbreaker - the R2 affordable EV 🚘. In this game of risk and reward, it appears their non-manufacturing hourly positions are hitting the chopping block. Find out more about these shockwaves here: https://lnkd.in/eRQCPWxf While some might see a company flirting with financial instability, we see a titan striding across the landscape. Through all the layoffs and a hefty $5.4 billion loss reported last year, Rivian has continued to rev up their EV production 🏭! Their towering goal for 2024 - a projection of 57,000 cars, matching their previous year's output! But it's not all sunshine and daisies for Rivian... With adjusted losses amounting to an estimated $2.7 billion in 2024, they're working hard to temper their spendings while turning up the dial on their capital expenditures. They're laying down a cool $1.75 billion for the launch of a new factory in Georgia and to enhance market operations 🏗️. Their finances may swerve wildly like a rollercoaster but don't let that fool you. Rivian has been consistently edging forward, spearheading projects like Peregrine and R2. Amidst fluctuating shares and a critical investor gaze, the future bravely awaits them 📈📉. Let's root for Rivian as they chart this challenging terrain, committed to boosting the overall team's efficiency and battling market skepticism. Onwards and upwards, Rivian! We're definitely buckled in and ready for this ride! 🎢 #Rivian #EV #Layoffs #FinancialStability #Growth #BumpyRide #CapitalExpenditure #Innovation #AlightRead

Rivian's Latest Move: Navigating the #EV Landscape Rivian, the EV manufacturer, is making strategic shifts amidst evolving market dynamics. Recent layoffs signal a cost-reduction push to achieve gross margin positivity by year-end. Dive deeper into Rivian's strategies amid a changing landscape. Read more ⬇️

It takes time! And the right product. And education. Exofolk - and the right team/designers, the right strategy. Can't take prototypes and sell them as end items. It takes time. Take your time and don't shoot to be the Elon Musk of exos. Shoot for a reliable and relatable product consumers want to use. #exosforall #exoskeletons #technology #innovation

Hello LinkedIn friends, This is a bit of old news by now, but I was one of the many people impacted by the layoffs at Rivian at the end of February. It was a bummer, the products Rivian is building are amazing and the future R2 / R3 / R3X lineup all have the potential to be S-tier vehicles. Happy to say I learned a lot in my time at Rivian and met many amazing people while I was there. I've spent the last 10+ years in the EV charging space, and am very interested in finding a company that has a mission to build the best AC charging hardware. Reliable, easy to install equipment that just works is the cornerstone of owning an electric vehicle and transitioning the world towards more sustainable transportation. There are a few really good examples of charging hardware out there, with room for many more as we look toward 2030 and beyond.  This year is a particularly interesting time for charging. SAE released the J3400 standard in December, officially opening the Tesla NACS. Every major automotive company has committed to adopting the Tesla NACS charge port and supporting coupler. NACS isn't perfect, but its a much improved experience for EV drivers when compared to J1772 and CCS1 hardware set that it's replacing. Ten year from now, the whole EV industry will be significantly better off by adopting this standard. Big props to Ford who took the first leap and got the whole industry to follow. If you know of a company looking for a Product Manager for AC charging or home charging please feel free to reach out. I'm spending my off time alternating between keeping up with home projects and reviewing the latest department of energy reports on growth projections for charging networks. EV charging seems to always be on my mind in some way, looking forward to finding a team with similar goals. Outside of that, Spring is officially here as of yesterday and the weather in San Jose is perfect. Enjoy the fresh air everyone, I certainly am.

See the video? This is exactly what my job looks like. I get to do this every day. Just kidding. I don’t. Nobody told me about this when choosing the digital product career path. But I still feel incredibly proud seeing this. I get to work with the team on our digital products that contribute to letting our customers (and our test & development teams) live the dream and share experiences like this. 🙂 This is the Rivian R1S, the first production EV completing one of the most challenging off-road trails in North America - the Rubicon Trail. On Stock Tires. 👊 #automotive #EVs #digitalproduct

Rivian was once a very hyped company, even backed by Amazon, but are struggling to find profits. On top of losing nearly $30,000 per truck manufactured, Rivian is further slashing the price of their flagship truck by another $3,000. Hearing about layoffs is no surprise given the circumstance. This is another reminder that building skills in tech is important. With continuous layoffs, the job markets becomes even more saturated. Bootcamps can keep you competitive in today's market. While many of those employees laid off are perhaps administrative and sales staff, that gives even more credence to switching to tech. Developers are always going to be needed to maintain and improve the company's technologies, but the more minor roles may not be so safe. If you're thinking of joining a bootcamp, visit our website to learn how you can turn your experience into a stable paying career in tech over at 👇 techcareerguides.com We look forward to seeing you. https://lnkd.in/eZkZuR33

Last week I offered my opinion on Rivian's position and strong ability to persevere despite recent layoffs. That said, I also contrasted that viewpoint a bit with Fisker, who may not be able to find a suitable financier or acquisition partner before insolvency. I've started thinking - Magna International (Fisker's manufacturing partner), who is already the largest multi-OEM automotive manufacturer, may be looking for a new OEM partner now that Fisker announced that it will be pausing production, talks of acquisition partner deal fell-through [probably Nissan as they switched from Fisker to Honda partnership in recent weeks], and the NYSE starting the de-listing process this week. Here is why it could be mutually beneficial: 1. Rivian is needing to launch the recently announced R2 asap, while also announcing the R3/R3X and international market expansion plans, including the EU. Magna could assist Rivian with jumpstarting limited production lines of both the R2 and R3, or at least start tooling so that the R2 could launch in the North American Market and EU market simultaneously in 2026. 2. Magna clearly will have manufacturing capacity with Fisker winding down and already has experience with EV manufacturing, including products from JLR and INEOS Automotive. While Magna wouldn't be able to capitalize on an engineering partnership perse with Rivian as most of the vehicle development is completed for R2 internally, this could be a symbiotic relationship, with Magna backfilling manufacturing capacity in Fisker's absence and Rivian being able to get the R2 to market - multiple markets? - more quickly. Thoughts? 🤔 #electricvehicle #manufacturing #partnerships #automotive