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TESLA, INC.

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Delayed Nasdaq  -  05/27 04:00:00 pm EDT
759.63 USD   +7.33%
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Rivian executive in charge of manufacturing engineering quits in management rejig

05/28/2022 | 08:07am EDT
FILE PHOTO: Rivian introduces R1T all-electric pickup truck at LA Auto Show in Los Angeles

(Reuters) - Rivian Automotive said on Friday Charly Mwangi, who helped kick-start the electric-vehicle maker's manufacturing process, will leave the company.

Mwangi, a former Tesla Inc executive, served as Executive Vice President from May 2020 at Rivian. He brought the R1T pickup truck and R1S SUV to production in late 2021.

His departure comes amid the arrival of former Magna International executive Frank Klein, who is due to take over as chief operations chief in June and oversee production, supply chain and manufacturing engineering.

The Amazon-backed company, which cut its 2022 production target earlier this year, added it was confident the restructuring of its operations team will strengthen Rivian's ability to deepen its relationships with commercial partners.

Rivian's Chief Executive RJ Scaringe has said it would be able to double its production if there were no supply constraints, after he pointed to allocation of semiconductors being an issue. (This story corrects headline to fix Mwangi's position in company)

(Reporting by Akash Sriram in Bengaluru; Editing by Krishna Chandra Eluri)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 3.66% 2302.93 Delayed Quote.-30.93%
MAGNA INTERNATIONAL INC. 1.57% 81.38 Delayed Quote.-20.49%
RIVIAN AUTOMOTIVE, INC. 5.92% 30.96 Delayed Quote.-70.14%
TESLA, INC. 7.33% 759.63 Delayed Quote.-28.12%
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Financials (USD)
Sales 2022 86 514 M - -
Net income 2022 12 821 M - -
Net cash 2022 19 125 M - -
P/E ratio 2022 69,2x
Yield 2022 -
Capitalization 787 B 787 B -
EV / Sales 2022 8,88x
EV / Sales 2023 6,55x
Nbr of Employees 99 290
Free-Float 82,7%
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Technical analysis trends TESLA, INC.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 38
Last Close Price 759,63 $
Average target price 947,62 $
Spread / Average Target 24,7%
EPS Revisions
Managers and Directors
Elon Reeve Musk Technoking of Tesla
Zachary J. Kirkhorn Master of Coin
Robyn M. Denholm Chairman
Ira M. Ehrenpreis Independent Director
James Rupert Murdoch Independent Director
Sector and Competitors
1st jan.Capi. (M$)
TESLA, INC.-28.12%786 984
LUCID GROUP, INC.-47.88%33 073
RIVIAN AUTOMOTIVE, INC.-70.14%27 884
NIO INC.-47.70%27 381
LI AUTO INC.-24.36%24 673
XPENG INC.-55.30%19 288