Whatever position the sneaker-wearing Gruner fills at Rivian, he ought to count on a problem.
Like different auto startups, Rivian is burning billions of {dollars} because it launches new fashions and invests in manufacturing and distribution capability.
Rivian posted a $1.35 billion first-quarter web loss on income of $661 million. Its inventory had shed 93 p.c of its worth this spring earlier than recovering on robust manufacturing unit output numbers this month.
The Amazon-backed automaker builds three autos in Normal, Ill., — an electrical supply van, a pickup and a crossover — and it’s engaged on its subsequent automobile platform, R2, designed for cheaper fashions.
Meanwhile, Rivian is constructing a sprawling $5 billion meeting plant close to Atlanta whereas ironing out manufacturing points at its Illinois manufacturing unit.
Gruner’s hiring may sign that Rivian is getting ready to maneuver past startup mode, stated Ivan Drury, Edmunds’ insights director.
“Having a seasoned automotive veteran with intimate knowledge of selling high-end products will do wonders for the brand,” Drury stated.
But Gruner goes into his new gig with eyes broad open.
In a LinkedIn publish asserting his exit from Porsche, the manager wrote: “How can you leave Porsche??? A great team, a great brand, great products! But sometimes there is the next mountain to climb.”
Source: europe.autonews.com