Electric vehicles of the future? One company says there is such a thing!

Rivian is a company that produces electric vehicles, develops electric SUVs and pickup trucks based on a "skateboard" concept and an electric minivan.

Rivian's creator and CEO is Robert "RJ" Scaringe. Following his Ph.D. in mechanical engineering, RJ founded the firm in 2009. Rivian's promise lies in developing solutions that transform people’s perceptions in reducing carbon output to create a safe and clean future.

Rivian is a net-zero vehicle and supercharger infrastructure manufacturer. The company has a 2028 net-zero goal and has made suppliers and partners join forces to lower the carbon output used for production. This precise carbon accounting is Rivian’s driving force.

The idea to make energy-efficient vehicles came as a solution to the ever-growing problem of carbon pollution. Robert set the industry bar high enough, reaching for the star-studded sky with names like Tesla up there.

The Love Of Vintage Cars Led To a Revelation

Robert Joseph "RJ" Scaringe is an American business executive, manager, and inventor. He is the CEO and creator of Rivian, a company that develops and produces personal and commercial cars, charging networks, and renewable energy technologies.

Robert was born in 1983 in Rockledge, Florida. His father was also an engineer, passing on the interest in vintage automobiles down to RJ. But by the age of 18, RJ was dedicated to the concept of creating his own automotive company.

Robert established Rivian out of a desire to create super-efficient and more importantly, enjoyable-to-drive automobiles. After earning his Ph.D. in Mechanical Engineering at MIT's Sloan Automotive Lab, RJ started the firm in Florida, back in 2009. His goal was to develop a range of high-quality, environmentally sustainable cars. Because of the locations of his factories, Robert makes back-and-forth trips to Bloomington-Normal, Illinois, and Irvine, California.

Education Unlocking Imagination

After earning his BA in Mechanical Engineering as the top-ranked student at Rensselaer Polytechnic Institute (RPI), Robert went on to earn his MS and Ph.D. in Mechanical Engineering at the Massachusetts Institute of Technology (MIT).

Robert majored in Automotive Powertrain Systems, Lean Manufacturing, and Operations Management. While he was a student, Robert worked in some of the largest engineering companies. Young RJ has thoroughly investigated all elements of the automotive business, boosting his knowledge with a great understanding of the sector's operations, production, and engineering.

From the Ground up

Robert Scaringe enrolled at MIT to gain knowledge on how to improve the vehicle-performance economy. Robert started his professional work at a Porsche repair shop in Florida, the spot where he discovered his passion for cars. Given the nature of huge companies, RJ quickly understood what’s causing the inefficiency of the sector and lack of adaptation. Robert worked for several big automotive businesses after obtaining his Ph.D.

Robert was a student, working in the automotive industry when he got the idea for Rivian. RJ intended to influence the way society perceived transportation. Founded in 2009, Rivian was the outcome of massive interest and dedication coming from its founder, Robert Scaringe.

RJ’s initial idea was to reinvent the concept of making cars. The company began with fewer than 20 employees and needed some time to grow. However, after establishing positive ties with investors and other stakeholders, the team continued to expand.

Rivian's ingenuity and use of innovation piqued the interest of investors all around the world, including tech global giants like Amazon. Rivian has acquired over $3.1 billion with Robert Scaringe behind the steering wheel in the company. With a staff of over 1000 people and a decade of development, experience, and fine-tuning of his innovation, Robert was set to order the first electric, semi-autonomous pickup truck that first made the market in 2020.

Creating a collaborative atmosphere is critical for Rivian to carry out its mission. The sophistication of their solutions and ecosystems requires a diverse mix of skills and expertise. Moreover, the extent to which the company will sustain its collaborative environment will directly reflect on its capacity to deliver tastefully crafted and integrated consumer experiences.

Reeling in the Big Fish

Rivian's decision to buy a production-ready facility rather than build a new facility has been compared to Tesla's purchase of the NUMMI factory in California. Rivian obtained $49.5 million in government tax incentives for reaching job objectives and is expected to spend at least $175 million on the project by 2024.

Rivian secured $200 million in bond funding from Standard Chartered Bank, increasing the total amount raised to around $450 million. Abdul Latif Jameel was another investor at the period.

In February 2019, Amazon stated that it will lead a $700 million financing round in Rivian. Existing shareholders were also invited to participate in the round.

The Ford Motor Company spent $500 million in April 2019. Later that month, Amazon purchased 100,000 Rivian electric delivery vehicles as part of its ambition to transform its delivery fleet to 100% renewable energy - all by 2030.

In 2019, Rivian received an investment from Cox Automotive. The amount they got was $1.5 billion. The company remained independent but took aboard a Cox Automotive representative as part of the deal.

Rivian was rumored to be in talks to purchase a manufacturing factory in Normal, Illinois, formerly held by Mitsubishi Motors. Rivian paid $16 million for the factory, and started the process of manufacturing components in January 2017, with the unit serving as Rivian's principal North American production location.

The locations in the UK, California, Illinois, and Michigan counted 750 employees in 2019, with 50 of them being located in Normal. Rivian will employ around 3,000 people by November 2020.

Rivian secured $2.85 billion in financing in 2019, together with a $500 million investment in April, made by Ford. And a $1.3 billion investment was led by T Rowe Price in December. Rivian raised $2.65 billion in a new financing round headed by T Rowe Price in January 2021.

Rivian, Today

2021 is the year that’s marked the beginning of car selling for Rivian. The June 2021 deadline has been pushed down to August. By August, car shipments had been delayed once more, partly owing to a global semiconductor shortage.

Rivian applied for an IPO in August 2021, claiming a worth of up to $80 billion. RJ’s Rivian is supposed to be the first carmaker to introduce a completely electric truck to the consumer market in 2021, beating out industry magnates such as GM, Ford, and Tesla.

With the community's support, Robert is on a quest to take Rivian over its first manufacturing cycle and expand its line. It is, however, too early to determine who will win the EV battles. Navigant's Sam Abuelsamid believes Rivian may be in a better position than Tesla in the future. The complexity of Rivian’s products requires a team of collaborators equipped with specific skill sets and proper backgrounds. Their capacity to produce beautifully curated and holistically integrated consumer experiences will be directly proportional to their ability to continue to establish and sustain a collaborative culture. This cross-system perspective is critical to Rivian’s capacity to achieve carbon neutrality by 2028.

Making a vehicle that is fit for the future is what keeps Rivian on the winning track. Being courageous to build the first electric truck makes him a direct competitor to Tesla and a world leader in producing electric vehicles.
Since Rivian’s motto is 'Keep the world adventurous forever’, we are expecting even more advanced and energy-efficient models to appear, taking the world on yet another electric adventure!