[20] Rivian received a large investment and grew significantly in 2015, opening research facilities in Michigan and the San Francisco Bay Area.

[21] Shortly thereafter, Rivian began working exclusively on electric autonomous vehicles, in an attempt to build a network of related products.

[18][28][29][30] Both vehicles were described as ready for rough terrain and semi-autonomous, and the company outlined a plan for its next generation of models to be fully autonomous.

[34] In September 2021, Rivian became the first automaker to bring a fully electric pickup to the consumer market, beating industry mainstays such as GM, Ford, and Tesla.

[46] On July 27, 2022, Rivian announced it would reduce its workforce by 6% in response to high inflation, rising interest rates, and an increase in parts prices.

[48] The reason behind this sale is not definitively known; it could reflect the fund's overall sentiment or might be a tax-loss harvesting strategy to balance other capital gains.

[48] In September 2022, Rivian signed an MoU with Mercedes-Benz Group to establish a joint venture to invest in and operate a factory in Europe, producing large commercial electric vans starting in a few years.

[50][51] The New York Times characterized the move as "a rare example of cooperation between a traditional carmaker and a new challenger" and noted that Mercedes' extensive experience in manufacturing may allow Rivian to overcome its own issues with it.

[53] After the company received seven reports of loose torque bolts that did not result in injury, in October 2022, Rivian issued a voluntary recall of 13,000 vehicles.

[54][55] In January 2023, The Wall Street Journal reported the company experienced the departure of multiple top executives in recent months, including some that were among its longest-tenured employees, in what was referred to as a "challenging period for Rivian.

[64] In October 2023, the company also ended the exclusivity deal it had with Amazon, allowing Rivian to supply other commercial customers with its electric delivery vehicles.

[29] The truck was claimed in early testing to be able to accelerate from 0–60 mph (0–97 km/h) in under 3 seconds, wade through 3 ft 7 in (1.1 m) of water and climb a 45 degree incline.

[72] According to Engadget, "the most expensive models will reach around 450 miles [720 km] on a charge and feature [an] 800HP [600 kW] electric motor Scaringe stated would beat Italian supercars.

[73] In addition, Rivian announced the intention to make an electric delivery van (EDV) in three different sizes, capable of carrying 500, 700 or 900 cubic feet (14, 20 or 25 m3) of packages.

[83] Rivian's skateboard platform is a relatively flat, low center of gravity chassis typical of electric vehicles, which enables straightforward modification for different body types.

By September 2019, Amazon's Logistics division had agreed to collaborate with Rivian to design, produce, and purchase 100,000 electric delivery vehicles (EDVs).

As this was at the low end of a range previously provided to the auto maker, in response Rivian sought to remove the exclusivity terms of the agreement.

[94] Amazon agreed to end the exclusivity arrangement, allowing Rivian to be free to seek new commercial customers for the vans.

[97] In May 2023, a shrouded clay model of the R2 was shown during a recorded conversation between R.J. Scaringe and Rivian lead designer Jeff Hammoud.

[99] In June 2023 it was reported that the R2 would cost between $40,000 to $60,000 at its launch which would make it less expensive than the R1 models and that a pickup truck version of the R2 may also be created alongside the SUV.

In March 2021, Rivian announced plans to develop a network of public charging stations across the United States and Canada by the end of 2023.

[8][114] Rivian is headquartered in Irvine, California, with its location focusing on vehicle engineering and design, propulsion and battery system development, and commercial functions.

[116][117] The company has additional office locations in Carson, California, and Woking, England, working on electric power conversion and advanced engineering, respectively.

[124] The chart below presents the quarterly sales of Rivian Electric Vehicles as per the data provided by the company in the shareholder letters for the financial years mentioned.

However, momentum has subsequently reversed with a $1.5bn convertible green note received poorly by the financial markets,[157] causing the share price to decline to a daily low of $15.88 on October 26, 2023.

[159][160] During a live stream on June 15, 2019, Rivian announced plans to collaborate with the Honnold Foundation and nonprofit Casa Pueblo on a solar project aiming to establish a microgrid in Adjuntas, Puerto Rico, a city that was severely affected by Hurricane Maria in 2017.

[162][163] The microgrid is intended to grant residents access to electricity for core business and will be used daily to mitigate the high cost of energy in Puerto Rico, which is twice the U.S. national average.

[162] In 2019, Rivian partnered with actors Ewan McGregor and Charley Boorman to provide prototypes for use as logistics vehicles and camera cars for the British TV series Long Way Up.

[168] In March 2021, the Illinois Automobile Dealers Association filed a lawsuit against Rivian and fellow EV manufacturer Lucid Motors for their plans to sell electric vehicles directly to consumers.

Schwab also claimed that she warned company executives of their vehicles being underpriced and the manufacturing process not conforming to security standards.