Rivian’s chief working officer Rod Copes stepped down final thirty day period as the EV startup was ramping up manufacturing for the R1T electric pickup and R1S electric powered SUV.
The COO retired from the corporation immediately after holding the posture for just about two yrs, with his LinkedIn profile indicating he experienced been appointed COO in March 2020. At the time of crafting, his profile reads “retired from Rivian.” Prior to becoming a member of Rivian, he was the president of Royal Enfield North The united states for just about 6 several years.
In accordance to Rivian, Copes’s departure is not as unexpected as it may seem to be at first sight. In a small assertion observed by Automotive News, the enterprise said that Copes “commenced a phased retirement from Rivian a number of months in the past, affording the crew continuity as we moved toward generation ramp.”
The EV maker included that his responsibilities have been dispersed throughout the management team. The COO’s departure will come at a essential time when the corporation faces problems in the production ramp-up of its R1T and R1S EVs.
Very last thirty day period, Rivian introduced that it would drop “a number of hundred automobiles shorter” of its target to create 1,200 motor vehicles in 2021. The corporation confirmed the estimate in a January 10 regulatory submitting that stated Rivian manufactured 1,015 automobiles by the stop of 2021 and delivered 920.
Rivian inventory dropped on output troubles and ongoing to tumble right after Amazon, a significant trader and customer, mentioned it would buy Ram ProMaster electric powered shipping and delivery vans from Stellantis. Shares ongoing to drop soon after information of Copes’s departure broke out on January 10, with the inventory getting 21% down this 12 months by Monday’s shut.
The EV maker not long ago shared designs to use portion of the $13.7 billion it had lifted by way of its IPO to make a 2nd manufacturing unit in Georgia that would double its manufacturing capacity and create battery cells.
Rivian also filed a new trademark for bicycles and electric bikes as well as their corresponding structural components. This very likely suggests that the organization is preserving a near eye on e-bikes as it seeks to diversify its portfolio with a less expensive solution to mass-generate than electric vans but continue to steady with its adventure-searching for customer foundation.