Rivian’s Charly Mwangi, his executive vice president of manufacturing engineering and former Tesla exec, is leaving the company as part of a larger shakeup that will split parts of the company. according to Bloomberg† “The reorganization requires a split of commercial activities, including vans made for Amazon, from the retail side of the company that produces the R1T plug-in pickup truck and R1S sport-utility vehicle,” Bloomberg reports. The company’s new COO, Frank Klein, will now oversee “many” senior manufacturing and supply chain employees. The Wall Street Journal also reported on the shake-up†
The changes are happening as the company begins to ramp up production of its much-demanded electric vehicles R1T and R1S. In its latest earnings call, the company said it delivered 1,227 vehicles to customers in the past quarter and produced about 5,000 vehicles. But the company also said it has more than 90,000 reservations for the R1T and R1S vehicles, meaning it still has a long way to go to meet demand. Rivian said in April that the plans to produce 25,000 vehicles by 2022and the company has high long-term goals: In November, CEO RJ Scaringe said that Rivian at least 1 million vehicles per year by 2030†
Rivian went public last fall in one of the largest IPOs ever, but its share price has fallen nearly 70 percent since the IPO.
