Electric vehicle (EV) giant Rivian has announced its intention to introduce advanced autonomous driving technologies in the near future. The company plans to roll out a hands-free driver assistance system in 2025, followed by an “eyes-off” system in 2026, CEO RJ Scaringe revealed to Reuters. The partially autonomous driving system will allow drivers to remove … Read more
On January 25, 2022, the business is expected to release its financial results. The demand for automobiles is anticipated to decline this year. Deliveries in the final quarter of the year were almost 34,000 below what Tesla produced. Tesla, an electric car manufacturer, claims it delivered a record 1.3 million units in 2018, a 40% … Read more
Rivian Automotive will brief employees on potential layoffs. Plans to suspend some programs. Tesla will permanently shut its office in San Mateo, California. It will lay off 229 employees. Rivian Automotive (RIVN.O) will brief representatives on Friday on expected cutbacks and plans to suspend a few projects as a component of a more extensive rebuilding, … Read more
New York: The stock of Rivian dropped 13% on Monday as early investors, including Ford, took advantage of the first opportunity to sell their shares. Rivian’s 180-day “lockup” period, which barred insiders and early investors from selling their shares, ended on Monday. Ford, which owns a 11.4 percent stake in Rivian, plans to sell 8 … Read more
SAN FRANCISCO: Amazon on Thursday reported its profit doubled to $14 billion in the crucial holiday quarter, giving a boost to jittery markets that expected less due to higher labour, sourcing and delivery costs. The e-commerce colossus said its net sales climbed to $137 billion, and its profit benefited greatly from a return on investment … Read more
