Rivian's Chief Financial Officer Claire McDonough has decided to leave the company, the electric vehicle maker said on Thursday, just as the company ramps up rollout of its smaller and more affordable SUVs amid fragile EV demand in the U.S.
IRVINE, Calif.--(BUSINESS WIRE)--Rivian Automotive, Inc. (NASDAQ: RIVN) today announced that Chief Financial Officer Claire McDonough has decided to step down from her role to pursue a new opportunity and relocate to the East Coast to be closer to her family.McDonough will remain in her role as CFO over the next two months to ensure a seamless and thorough transition. During this period, she wi...
Also has raised another $150 million as the micromobility startup that spun out of Rivian last year expands its business beyond pedal-assist electric bikes and commercial cargo quads to autonomous delivery vehicles.
Rivian is trying to catch up to Tesla's "hands-free" capabilities, but with additional safety guardrails. Based on recent drives totaling hundreds of miles, Rivian has surpassed legacy competitors such as General Motors with its advanced driver-assistance system but is still behind Tesla.
Software-defined vehicles are becoming more common, especially among brands such as Tesla and Rivian. They have more complex computers that can give continuous software updates, as well as the ability for remote diagnoses and repairs.
Building a company is hard. But building one that also designs, manufactures, and delivers hardware at scale, from a factory floor, with supply chain concerns galore is another order of difficulty.
Rivian Automotive Inc (NASDAQ:RIVN) shares fell more than 6% on Friday following the company's second-quarter 2026 results, as investors weighed an earnings beat against ongoing electric vehicle market pressures and profitability concerns. The EV maker reported an adjusted loss of $0.47 per share for the quarter, narrower than Wall Street expectations for a loss of roughly $0.65 per share.
