Rivian CEO RJ Scaringe Expands Role, Takes Charge Of All Product Segments

EV maker Rivian Automotive Inc RIVN said on Monday that its CEO RJ Scaringe will assume direct responsibility for all product functions including, but not limited to, software and design.

What Happened: Scaringe will now have direct responsibility for Software, Autonomy, Design, Vehicle, Electrical, Propulsion, and Programs, the company said in the SEC filing.

The company's current chief product development officer Nick Kalayjian, meanwhile, will move to the role of Executive Vice President, Vehicle Engineering & Propulsion. He will continue reporting to Scaringe, the company added.

“Rivian is migrating the entire product organization under RJ because we believe it represents the best organizational design to facilitate the introduction of our new technologies in 2024 and the design and development of R2,” a company spokesperson said in a statement to Benzinga.

Further, Scaringe has been closely involved with each of these crucial projects, the spokesperson added.

Why It Matters: Company CFO Claire McDonough said during the company's third-quarter earnings call that the company would commence R2 platform production in 2026, with product unveilings anticipated in early 2024.

The R2, while maintaining the brand’s essence, will be more compact and available at a lower price point. “There’s an extreme vacuum of choice we feel in the sort of $45,000 to $50,000 price range for midsize SUVs,” Scaringe then said, adding the lack of choices has left EV giant Tesla Inc. with a highly concentrated market share.

Rivian also intends to start delivering its electric delivery vans to fleet customers beyond online retailer Amazon.com Inc starting in 2024.

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