Tesla Rival Rivian Sees 24% Sales Surge In November Amid CEO RJ Scaringe's EV Credit Comments, Elon Musk-Style Pay Package

Benzinga

Rivian sold more than 4,500 R1T and R1S vehicles in November, up from both October and last year, as CEO RJ Scaringe said Trump’s rollback of the EV credit could benefit the company by reducing competition. SEC filings show Scaringe sold nearly 70,000 shares, while shareholders approved a performance-based pay package worth up to $4.6 billion. Shares traded at $17.34 in Wednesday’s pre-market session.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Rivian Automotive reported U.S. sales of more than 4,500 R1T and R1S vehicles

00:08in November, according to Benzinga. This is up from 3,944 in October,

00:14and higher than the 3,625 sold in November 2024. CEO R.J. Skirinj said,

00:23Trump's rollback of the $7,500 federal EV credit could help Rivian by reducing competition as

00:28legacy automakers' scale-back EV plans. Skirinj sold 69,890 shares worth over $1.13 million in

00:36November, according to SEC filings. Rivian's shareholders also approved a performance-based

00:41pay package for Skirinj valued at up to $4.6 billion over 10 years that includes both profit goals

00:47and stock price milestones for the automaker. Shares traded at $17.34 in pre-market trading on

00:53Wednesday. For all things money, visit Benzinga.com.

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