Here are the latest news updates for Rivian:
– **Rivian spins off micromobility business**: Rivian announced the creation of a new startup called Also, Inc. to focus on micromobility vehicles. Also received a $105 million investment from Eclipse Ventures and will utilize Rivian’s technology and retail network[1][2].
– **First quarterly gross profit**: Rivian reported its first quarterly gross profit, marking a significant milestone for the company. However, they are bracing for potential U.S. policy changes that could have financial impacts[1].
– **Production update**: Rivian produced just under 50,000 vehicles in Normal, Illinois in 2024 and resolved supply issues with a key motor part[1].
– **Potential union agreement**: Bloomberg News reported that Rivian and the UAW have a confidential agreement for the company to take a neutral position on unionization efforts at its Normal plant[1].
– **Upcoming product showcase**: Rivian CEO RJ Scaringe announced that Also will showcase its initial micromobility vehicle designs at an event later in 2025[2].
These developments indicate Rivian’s efforts to diversify its product offerings and improve financial performance while navigating challenges in the electric vehicle market.