Source: Fortune
Summary
Rivian CEO RJ Scaringe discusses the company’s journey, from its founding in 2009 to its current status as a leading electric vehicle manufacturer. Scaringe reflects on the challenges the company has faced, including a scrapped sports coupe, supply shortages, and software bugs. Despite these setbacks, Rivian has made significant progress, including a successful IPO in 2021 and partnerships with Amazon, Volkswagen, and Uber. Scaringe hopes that Rivian will one day be compared to brands like Nike or Apple, rather than just Tesla.
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The numbers tell one story. Rivian’s stock is 88% below its debut price of $130, and the company is still reporting losses in the billions. However, Scaringe remains optimistic, citing the company’s resilience and its ability to inspire people to “do the things they love.” The CEO’s long-term vision is to make Rivian a brand that means more than just its products. The company’s partnerships with major players like Amazon and Volkswagen suggest that it is on the right track. As Scaringe says, “You just keep going.” Rivian’s story is one of perseverance in the face of adversity.
Author: Evan Null
