Rivian — From a Florida Start-up to Electric Trucks From Illinois

Rivian at a glance

Origins: Mainstream Motors and the first R1

RJ Scaringe grew up in Melbourne, Florida, the son of an engineer who ran his own company. He studied mechanical engineering at Rensselaer Polytechnic Institute and earned a master's degree and a doctorate at MIT, in the Sloan Automotive Laboratory. In June 2009, at about 26, he founded Mainstream Motors in Rockledge, Florida, as its only employee. The company was renamed Avera Automotive and, in 2011, Rivian Automotive, after the Indian River near where he grew up.

The first planned car was nothing like today's Rivians: a mid-engined hybrid coupé, also called R1, designed by Peter Stevens. It was shelved in late 2011. In 2015 Rivian opened research centres in Michigan and the San Francisco Bay Area and changed direction towards electric vehicles.

The Normal plant and the big investors

In January 2017 Rivian bought the former Mitsubishi factory in Normal, Illinois, for US$16 million; it is still the company's only production plant. In December 2017 it showed two vehicles under the working names A1T and A1C, renamed R1T and R1S when they were unveiled at the Los Angeles Auto Show in November 2018. Sumitomo invested the same year, and Standard Chartered provided US$200 million of debt finance in May 2018.

The large investors arrived in 2019. Amazon led a US$700 million round in February, Ford invested US$500 million in April and Cox Automotive US$350 million in September; a US$1.3 billion round followed in December. In 2021 Rivian raised US$2.65 billion in January and US$2.5 billion in July. The company grew from about 750 employees in February 2019 to more than 9,000 by November 2021.

R1T and R1S: the first electric adventure vehicles

The first production Rivian R1T was built in Normal on 28 September 2021, ahead of other electric pickups for private buyers, and customer deliveries started in autumn 2021. With four electric motors it produces 623 kW (835 hp). Batteries of 105, 121, 135 and 149 kWh give EPA ranges from about 372 km (231 miles) to 645 km (401 miles). Its "Gear Tunnel", a 328-litre compartment across the car behind the rear seats, became a signature feature. A "Tank Turn" mode that would spin the truck on the spot was announced but dropped in June 2023 because it could damage surfaces. MotorTrend named the R1T its 2022 Truck of the Year.

The seven-seat Rivian R1S SUV shares its platform. The second-generation R1 of 2024 switched to zonal wiring, which removed about 2.6 km (1.6 miles) of cable and 20 kg, and the 2024 models earned an IIHS Top Safety Pick+.

Amazon vans and the 2021 IPO

In September 2019 Amazon agreed to buy 100,000 electric delivery vans (EDV) from Rivian. The first production EDV 700 was completed in December 2021, and the vans went into service in nine US cities in July 2022. They come in 500, 700 and 900 sizes; early vans used the 135 kWh battery of the R1, and from 2023 Rivian switched to lithium iron phosphate cells. The contract was exclusive until October 2023, after which Rivian offered the vans to other fleets. By the end of 2025 about 30,000 had been delivered to Amazon.

In November 2021 Rivian listed on the Nasdaq under the ticker RIVN, selling 153 million shares at US$78. The 2021 offer valued the company at US$66.5 billion. On the first day of trading in 2021 the shares closed at US$100.73; net proceeds of the 2021 listing were US$13.5 billion. Ford and Rivian dropped plans for a joint electric vehicle the same month. In December 2021 Rivian announced a US$5 billion battery and assembly plant east of Atlanta, Georgia, for up to 400,000 vehicles a year.

The following years were harder. Rivian built 24,337 vehicles in 2022 and about 57,232 in 2023, but net losses were US$6.75 billion in 2022 and US$5.43 billion in 2023. A recall of about 13,000 vehicles over loose bolts came in October 2022, staff cuts of 6% in July 2022 and 10% of salaried staff in February 2024, and construction in Georgia was paused in early 2024.

Volkswagen, R2 and Rivian today

In June 2024 the Volkswagen Group announced an investment of up to US$5 billion, and a joint venture for software and electrical architecture started in November 2024. By May 2026 Volkswagen held about 15.9% of Rivian, ahead of Amazon with about 12.3%. In November 2024 the US government announced a US$6 billion loan for the Georgia plant, now expected to open in 2028.

The R2, a smaller five-seat SUV, was unveiled on 7 March 2024 together with the compact R3, and more than 68,000 reservations were made within 24 hours. Built in Normal, it has an 87.9 kWh usable battery, an EPA range of up to 345 miles (555 km) and up to 489 kW (656 hp) in the three-motor Performance version. Production started in April 2026 and deliveries in June 2026. The R2 is planned as Rivian's first global model, including Europe.

In 2025 Rivian produced 42,284 vehicles and reduced its net loss to US$3.59 billion. All models are in the Rivian catalogue. For the other American electric car makers, see the history of Tesla and the Lucid catalogue. Its SUVs are compared with rivals in the best electric SUVs.

Rivian timeline

Landmark Rivian models

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