Rivian Hires Javier Varela as Chief Operations Officer

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Go back to Rivian Hires Javier Varela as Chief Operations Officer

Rivian Automotive (RIVN) stock gains on COO hire, state subisdy

May 3, 2024 9:48 AM EDT

Rivian Automotive (NASDAQ: RIVN) shares jumped more than 5% Friday on the news that Javier Varela will join as its Chief Operations Officer and that the company has received an $827 million incentive package from the State of Illinois Department of Commerce & Economic Opportunity.

The state subsidy will allow the company to expand operations at its plant in Normal, IL. The... More