Rivian hires Magna Steyr executive as COO, report says

EV maker Rivian has hired a prime government from a main automobile provider as its upcoming COO, according to people today common with the subject, an exertion to get its troubled producing functions again on keep track of.

Rivian has struggled to ramp up manufacturing, citing source chain constraints these as a shortage of semiconductors. To enable tackle these production snags, it has preferred Frank Klein, the head of the motor vehicle-generating unit at Canada’s Magna Intercontinental Inc., mentioned the individuals, who declined to be named.

A agent for Rivian declined to comment.

Rivian CEO R.J. Scaringe told analysts Thursday that a COO would be named up coming week, stating the new executive would concentrate on scaling up the company’s output and offer chain operations.

“With our 2022 priorities, we have been very concentrated on making certain we have the proper workforce operating towards our mission,” Scaringe claimed on a convention contact.

The EV-maker is intently followed and backed by a prolonged checklist of stellar investors. But it has struggled given that a blockbuster November IPO, as parts shortages and output hiccups have pummeled the stock. Rivian has been without having a COO due to the fact the starting of the 12 months when Rod Copes stepped down following much less than two several years on the job.

Klein, who did not answer to a request for comment, has been at Magna Steyr given that April 2019, according to his LinkedIn profile.

Due to the fact July 2020, he has been president of Magna Steyr, the firm’s contract auto-producing arm. Prior to that, he expended 25 many years with Daimler AG.

Magna spokeswoman Tracy Fuerst declined to remark.

Rivian expects to build 25,000 cars in 2022, including two buyer models and a battery-electric powered shipping van for trader and shopper Amazon, less than 50 % of planned ability at its Typical, Unwell., factory, which the organization has blamed on source chain constraints.