The electric vehicles maker Rivian announced that hired Tim Fallon to be the new Vice President of Manufacturing. Fallon previously worked at Nissan, where he was vice president for manufacturing at the company’s assembly plant in Canton, Mississippi. Tim Fallon worked with Nissan for more than 16 years having 6 different roles before reaching the Manufacturing VP position.
Fallon will succeed Erik Fields, who will be “transitioning out of the role” after serving as Rivian’s manufacturing VP for about 16 months. “Rivian appreciates the warmth and leadership he brought to the factory floor and wishes him well in his next venture” the company said. As of 10.54 AM EST, Rivian shares are trading +1.24% higher at $65.45.
According to SEC’s filling document unveiled earlier this week, George Soros’ Fund Management, revealed a new stake in electric truck Rivian Automotive valued at $2 Billion. However, with the recently decrease of the stock price, the investment worths noe around $1.17 billion.
According to Bloomberg, the billionaire philanthropist’s investment firm manages more than $28 billion, including public and private equity. Soros poured billions into his philanthropic efforts, and most of his firm’s assets now belong to the foundations rather than to the Soros family. His personal wealth is estimated at $7.5 billion, according to the Bloomberg Billionaires Index.
Recently, the company said it expects to soon be delivering as many as 200 electric R1T pickup trucks per week – quadrupling its production rate from where it was some weeks ago, and putting it on track to surpass 10,000 pickups manufactured this year.
Last December, the company recently announced that COO (Chief operating officer) departed from the company. Rivian Automotive, Inc. produced 1,015 vehicles by the end of 2021. 920 vehicles were delivered by that date. The company had warned last month that would likely fall a few hundred short of its goal to build 1,200 vehicles last year.
Recently, Rivian said it expects to soon be delivering as many as 200 electric R1T pickup trucks per week – quadrupling its production rate from where it was some weeks ago, and putting it on track to surpass 10,000 pickups manufactured this year.
Last December, the company recently announced that COO (Chief operating officer) departed from the company Rivian Automotive, Inc. produced 1,015 vehicles by the end of 2021. 920 vehicles were delivered by that date. The company had warned last month that would likely fall a few hundred short of its goal to build 1,200 vehicles last year.