Deliveries are getting underway, that means Rivian will start generating revenue, with speedy development from essentially zero seen. Meanwhile, Ford recently vacated its seat on Rivian’s board of administrators. Although no announcement was made, Ford VP of company growth Doug Power stepped down from the post last month, based on a Reuters report. Rivian says it doesn’t anticipate to be profitable for the foreseeable future. The firm intends to make use of internet proceeds from the Rivian IPO for working capital, to fund growth and for other general company functions.
Lexus and Subaru led the field for luxury and mass-market manufacturers, respectively. Kia Motors Corporation has revealed an bold plan to make battery-electric autos account for 1 / 4 of its global gross sales by 2030. This week, we discussed client curiosity in electric and self-driving cars according to the newest J.D. In the absence of the Los Angeles Auto …