COO Retires from Company�������������������������

manding industries be more responsible and accountable for their actions.

“The ones who do it in a meaningful way are positioning their businesses well to move forward,” he said. “The ones who delay taking action will have to catch up eventually because that segment of the population is only going to become a larger and larger piece of the audience out there.”

Moving forward, LoPrete encourages industry stakeholders to work together and make sustainability part of their strategic thinking to reduce the amount of waste being generated while still producing safe repairs.

“While we can do things individually that will make a difference, the reality is that the greatest impact will come if we work together,” he said. “Sustainability needs to be a topic of discussion; it can’t be left undiscussed.”

He challenged the industry to do the following: • Make sustainability an agenda item during meetings • Appoint a subject matter expert within your organization • Track and record your current waste and look at trends • Identify pathways for improvement • Involve other stakeholders in your conversations • Share initiatives broadly across your organization

“If we begin thinking about sustainability from this perspective, we can make progress that will shape legislative actions, rather than being subjected to requirements from outside of our industry,” said LoPrete. “There will be winners and losers across the stakeholder chain. The green consumer will make sure that happens. They will support the ones that make the right choices.”

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AUTOBODY

UPDATED DAILY

www.autobodynews.com

by Simon Alvarez, Teslarati

In a recent press release, Rivian announcedit hadofficially produceda total of 1,015 vehicles by the end of 2021, 920 of which were delivered before the end of the year.

The update comes as news emerged the company’s chief operating officer, Rod Copes, had retired from Rivian in December.

Considering Rivian has only just started delivering its first vehicles like the R1T pickup truck, R1S SUV and its Amazon delivery van, the company’s 1,015 deliveries in 2021 is nothing to scoff at. Rivian announced before the end of the year it would likely fall “a few hundred vehicles short” of its 2021 vehicle production target, which was set at 1,200 units.

The recent updates—particularly the departure of Copes— appear to have adversely affected RIVN stock. Rivian shares dropped about 2.3% in premarket trading on Jan. 11 as news of the COO’s departure spread online. As of writing, Rivian shares are trading at $80.93 per share, far below its all-time high in November when RIVN traded at nearly $180 per share, but still enough to give the company a market cap of more than $71 billion.

The departure of Copes was extremely understated. While a company spokesperson told The Wall Street Journal the executive’s departure had been planned for months and his duties had already been absorbed by Rivian’s leadership team, there had been no press release announcing the retirement when Copes left in December.

Rivian will likely have its hands full in 2022. The company is expected to ramp the production and deliveries of the R1T and the R1S. Deliveries of its Amazon electric delivery van are expected to increase as well.

The electric truck market is also poised to become more competitive this year, with vehicles like the Ford F-150 Lightning and possibly the Tesla Cybertruck starting their customer deliveries sometime in 2022.

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