Rivian names Frank Klein as operating chief

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Electric carmaker Rivian Automotive Inc on Monday named Frank Klein as its chief operating officer, succeeding Rod Copes. Klein was previously president at Magna Steyr, a subsidiary of Canadian auto parts maker Magna International. (Reporting by Eva Mathews in Bengaluru)

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Rivian is losing $12,000 per vehicle. They have essentially stated that this will be the case for the next 70,000 vehicles reserved. They will make 25,000 a year - so for the next 3 years they will lose $12,000 or more per vehicle. Close this kid’s lemonade stand.

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