Rivian Names Former Magna Unit Executive As Operating Chief

Rivian Automotive Inc has named Frank Klein, a former executive at Canadian auto parts maker Magna International's unit, as its chief operating officer, at a time when the electric carmaker has warned on its 2022 production forecast.

During his tenure at the Austria-based unit, Magna Steyr, Klein oversaw its shift to the electric mobility manufacturing space, including the production of the first electric vehicle made by a contract manufacturer, Rivian said on Monday.

He previously served in various management positions at German carmaker Daimler AG for nearly three decades and was responsible for setting up the Mercedes-Benz plant in Kecskemet, Hungary.

Klein will be based in Normal, Illinois, where Rivian currently produces its vehicles. The company last year said it would locate its second U.S-based manufacturing facility in Georgia. Production at the Georgia plant is slated for 2024.

Rivian last week said supply-chain issues could cut its planned production in half in 2022 to 25,000 vehicles.

Klein succeeds Rod Copes, who retired in December.

Amazon-backed Rivian recently raised its prices by 20%, but rolled them back for orders booked before March 1 following a backlash.

(Reporting by Eva Mathews and Tiyashi Datta in Bengaluru)

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