Is Rivian Going Out Of Business 2024?

About Rivian

Rivian is an American electric vehicle manufacturer, automotive technology and outdoor recreating company. It is a California-based company with a manufacturing unit in Illinois.

About Rivian

Rivian produces its vehicle on a skateboard platform that can support future vehicles and be adopted by other companies. It also has a partnership with Amazon to manufacture an electric delivery van called Rivian EDV.

How Rivian Started?

Rivian was founded in 2009 by Robert 'J' Scaringe. In 2021, Rivian went public through IPO and sold 153 million shares at an initial public offering price of $78.

Products Of Rivian

1. R1T Vehicle 2. ELectric Delivery Van (EDV) 3. R2

Financial Position Of Rivian

Total Revenue: $1.12 billion EBIT: -$1.14 billion Total Assets: $3.02 billion Net Debt: -$7.18 billion Total Debt: $3.02 billion

Top Shareholders Of Rivian

1. Amazon .com  Inc. 2. Price Associates Inc 3. Vanguard Group Inc 4. Blackrock Inc 5. FMR, LLC

Rivian's Sales Over Years

Q1 2022: 2,553 Q2 2022: 4,401 Q3 2022: 7,363 Q4 2022: 10,020 Q1 2023: 9,395 Q2 2023: 13,992

Is Rivian Going Out Of Business?

The company has been facing a alot of financial trouble. It has faced a loss of $1.7 billion but is on the same page as Tesla was once before its started growing. So, its common for a growing company to face loss.