The company also did not tell investors that its chief operating officer, Rod Copes, a Harley-Davidson veteran, left the company last year. Public companies and those in the process of listing their shares generally disclose the departures of top executives. The news was first reported by The Wall Street Journal.
Understand the Supply Chain Crisis
Ms. Mast said Mr. Copes had a “phased transition from Rivian in fall 2021, prior to the I.P.O.” and retired in December, after the offering.
Mr. Copes, 55, said in an interview that he did not leave Rivian because of concerns about his performance or because there were problems with production. He said that he had achieved key goals and that the structures were in place for Rivian’s ramp-up in production. “It was a smooth and seamless transition,” Mr. Copes said.
But corporate governance experts think Rivian ought to have disclosed his impending departure to investors during the I.P.O., given his senior role. “If they knew he was leaving, the optimal disclosure would have been to identify their C.O.O. but indicate that he was leaving,” John C. Coffee Jr., a professor at Columbia Law School, said in an email.
According to one former executive, Rivian has a poor management culture.
The executive, Laura Schwab, said she was fired last year from a high-ranking sales and marketing position after expressing concerns about what she called the “boys’ club culture” and “gender discrimination” at the company. She filed a lawsuit in state court in California accusing Rivian of violating the state law prohibiting employment discrimination and retaliation.
Ms. Schwab said she had been part of 30 vehicle introductions in prior auto industry jobs, including at Aston Martin and Jaguar Land Rover. Soon after arriving at Rivian, she said, she felt compelled to express concerns that the company was in danger of missing delivery targets.
“The production line doesn’t go from zero to thousands of cars overnight; it just doesn’t work that way,” she said.
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Sales of cars powered solely by batteries surged in the United States, Europe and China last year, while deliveries of fossil fuel vehicles were stagnant. Demand for electric cars is so strong that manufacturers are requiring buyers to put down deposits months in advance. And some models are effectively sold out for the next two years.
Battery-powered cars are having a breakthrough moment and will enter the mainstream this year as automakers begin selling electric versions of one of Americans’ favorite vehicle type: pickup trucks. Their arrival represents the biggest upheaval in the auto industry since Henry Ford introduced the Model T in 1908 and could have far-reaching consequences for factory workers, businesses and the environment. Tailpipe emissions are among the largest contributors to climate change.
While electric vehicles still account for a small slice of the market — nearly 9 percent of the new cars sold last year worldwide were electric, up from 2.5 percent in 2019, according to the International Energy Agency — their rapid growth could make 2022 the year when the march of battery-powered cars became unstoppable, erasing any doubt that the internal combustion engine is lurching toward obsolescence.
The proliferation of electric cars will improve air quality and help slow global warming. The air in Southern California is already a bit cleaner thanks to the popularity of electric vehicles there. And the boom is a rare piece of good news for President Biden, who has struggled to advance his climate agenda in Congress.
more than a dozen new electric car and battery factories just in the United States.
“It’s one of the biggest industrial transformations probably in the history of capitalism,” Scott Keogh, chief executive of Volkswagen Group of America, said in an interview. “The investments are massive, and the mission is massive.”
But not everyone will benefit. Makers of mufflers, fuel injection systems and other parts could go out of business, leaving many workers jobless. Nearly three million Americans make, sell and service cars and auto parts, and industry experts say producing electric cars will require fewer workers because the cars have fewer components.
Over time, battery ingredients like lithium, nickel and cobalt could become more sought after than oil. Prices for these materials are already skyrocketing, which could limit sales in the short term by driving up the cost of electric cars.
The transition could also be limited by the lack of places to plug in electric cars, which has made the vehicles less appealing to people who drive long distances or apartment residents who can’t charge at home. There are fewer than 50,000 public charging stations in the United States. The infrastructure bill that Congress passed in November includes $7.5 billion for 500,000 new chargers, although experts say even that number is too small.
could take decades unless governments provide larger incentives to car buyers. Cleaning up heavy trucks, one of the biggest sources of greenhouse gas emissions, could be even harder.
Still, the electric car boom is already reshaping the auto industry.
The biggest beneficiary — and the biggest threat to the established order — is Tesla. Led by Elon Musk, the company delivered nearly a million cars in 2021, a 90 percent increase from 2020.
Tesla is still small compared with auto giants, but it commands the segment with the fastest growth. Wall Street values the company at about $1 trillion, more than 10 times as much as General Motors. That means Tesla, which is building factories in Texas and Germany, can easily expand.
“At the rate it’s growing now, it will be bigger than G.M. in five years,” said John Casesa, a former Ford executive who is now a senior managing director at Guggenheim Securities, at a Federal Reserve Bank of Chicago forum in January.
Most analysts figured that electric vehicles wouldn’t take off until they became as inexpensive to buy as gasoline models — a milestone that is still a few years away for moderately priced cars that most people can afford.
But as extreme weather makes the catastrophic effects of climate change more tangible, and word gets around that electric cars are easy to maintain, cheap to refuel and fun to drive, affluent buyers are increasingly going electric.
outsold diesel cars in Europe for the first time. In 18 countries, including Britain, more than 20 percent of new cars were electric, according to Matthias Schmidt, an independent analyst in Berlin.
Inevitably, a transition this momentous will cause dislocation. Most new battery and electric car factories planned by automakers are in Southern states like Georgia, Kentucky, North Carolina and Tennessee. Their gains could come at the expense of the Midwest, which would lose internal combustion production jobs.
Toyota, a pioneer in hybrid vehicles, will not offer a car powered solely by batteries until later this year. Ram does not plan to release a competitor to Ford’s Lightning until 2024.
Chinese companies like SAIC, which owns the British MG brand, are using the technological shift to enter Europe and other markets. Young companies like Lucid, Rivian and Nio aim to follow Tesla’s playbook.
Old-line carmakers face a stiff learning curve. G.M. recalled its Bolt electric hatchback last year because of the risk of battery fires.
The companies most endangered may be small machine shops in Michigan or Ontario that produce piston rings and other parts. At the moment, these businesses are busy because of pent-up demand for all vehicles, said Carla Bailo, chief executive of the Center for Automotive Research in Ann Arbor, Mich.
“A lot of them kind of have blinders on and are not looking that far down the road,” Ms. Bailo said “That’s troubling.”
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That number is growing quickly. Amazon is several years — and tens of billions of dollars — into a huge push to deliver packages, shifting away from relying on large carriers like UPS. To begin the expansion, Amazon ordered 20,000 diesel Sprinter vans from Mercedes-Benz.
Through its network of contractors, Amazon now delivers more than half of its orders globally, and far more in the United States. Amazon has six times as many delivery depots now as it did in 2017, with at least 50 percent more new facilities set to open this year, according to data from MWPVL, a logistics consultancy.
That logistics boom, accelerated by the pandemic’s shift to online shopping, multiplies the challenges the company faces in meeting its pledge to reduce its climate impact. Its vow to make half of its deliveries carbon-neutral by 2030 is part of the company’s broader pledge to be net-carbon-neutral by 2040.
“Electrification of their delivery fleet is a really important part of that strategy,” said Anne Goodchild, who leads the University of Washington’s work on supply chain, logistics and freight transportation.
Delivery vans are well suited to electric propulsion because they usually travel 100 miles or under in a day, which means they don’t need large battery packs that add to the cost of electric cars. Delivery trucks are often used during the day and can be recharged overnight, and usually require less maintenance than gasoline trucks. Electric vehicles don’t have transmissions and certain other mechanical components that wear out quickly in the heavy stop-and-go typical in delivery routes.
In September 2019, when Mr. Bezos announced Amazon’s huge Rivian order — the largest ever order of electric vehicles — he positioned it as central to Amazon’s commitment to reduce its carbon footprint. At the time, he said he expected the 100,000 vans to be on the road “by 2024.”
Amazon invested at least $1.3 billion in Rivian, which Amazon says is supposed to make 10,000 vans as early as this year. Amazon also locked up exclusive rights to Rivian’s commercial vans for four years, with the right of first refusal for two years after that. The companies have been testing the vans for almost a year.
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Paul Van Doren, a founder of Vans, the Southern California sneaker company that became synonymous with skateboarding almost by chance and then grew into a multibillion-dollar business, died on May 6 in Fullerton, Calif. He was 90.
His death, at the home of one of his children, was confirmed by a representative for VF Corporation, which now owns Vans. He lived in Las Vegas.
Mr. Van Doren founded the Van Doren Rubber Company in 1966 with the investor Serge D’Elia and soon brought on his younger brother James and Gordon Lee, a colleague from his years working for another sneaker manufacturer.
The idea was straightforward: sell high-quality but inexpensive sneakers from a store adjacent to a factory in Anaheim. The company handled production on-site, making it easy to fill orders of different sizes and allowing buyers to customize their shoes in a rainbow of colors and patterns.
Los Angeles magazine this year. “And here’s a company listening to them, backing them and making shoes for them.”
Vans provided Mr. Alva and Mr. Peralta with free shoes and sponsored them as part of a team of professional skateboarders, an arrangement that became a model in the skateboard shoe business.
The company went on to develop new styles, like the Old Skool, which has leather panels on the toe and heel for increased durability; the Sk8-Hi, an Old Skool with a padded high-top collar to protect ankles from errant boards; and a laceless canvas slip-on equipped with the signature Vans sole.
By the early 1980s the shoes were available in about 70 Vans stores, mostly in Southern California, and in outlets around the country. The shoes had earned a following among skateboarders, surfers and BMX bicyclists but were not widely known outside of those core markets.
Fast Times at Ridgemont High.”
Frank Ocean wore checkerboard slip-ons to the White House to meet President Barack Obama.
Vans has collaborated on custom shoes with the labels Kenzo and Supreme, companies like Disney, the music makers Public Enemy and Odd Future and the contemporary artist Takashi Murakami. Customers can design their own shoes on the company’s website.
But Vans remains tied to its original demographic, continuing to sponsor skateboarders, snowboarders, surfers and other athletes and run surfing and skateboarding contests around the world. For nearly 25 years it funded the Warped Tour music festival, which featured skateboarding demonstrations.
“We lost our founding father, but his roots run deep with us,” Mr. Alva wrote on Instagram after Mr. Van Doren’s death.
Paul Joseph Van Doren was born on June 12, 1930, to John and Rita (Caparelli) Van Doren and grew up in Braintree, Mass., south of Boston. His father was an inventor who designed fireworks and clothespins, and Mr. Van Doren learned valuable business lessons working alongside him.
He wrote that he dropped out of high school at 16 and for a time made a living at the horse track and in pool halls, work his mother could not abide. She helped him get a job at the Randolph Rubber Manufacturing Company, a Massachusetts concern that made canvas sneakers.
died in 2011 at 72.
His son Steve, daughter Cheryl and some of his grandchildren continue to work for the company he built.
Mr. Van Doren spent more than 15 years at Randolph Rubber. In 1964 he moved to Southern California to run a factory for Randolph there but left two years later to start Vans, having had disagreements with Randolph management.
He retired in the early 1980s, and his brother James took control of the company. James Van Doren tried to compete with companies like Nike and Adidas by expanding into different sports — running, basketball, wrestling and break dancing among them — only to bankrupt the company by 1984, Mr. Van Doren wrote.
Mr. Van Doren returned to lead Vans back to solvency. He refocused the company on its core offerings, and in a few years Vans paid back about $12 million in debt, he wrote.
mound wearing a pair of Sk8-Hi shoes customized with spikes, Mr. Van Doren wrote.
“The company doesn’t pay people to do these things; they happen organically,” he added. “Our customers, famous or not, just like the shoes.”
Alain Delaquérière contributed research.
TOKYO — Daisuke Hayakawa is the coach of Japan’s Olympic skateboarding team, which is likely to dominate the sport when it makes its debut at this summer’s Olympics in Tokyo. But that does not mean he would dare set his skateboard down on a city sidewalk.
He may be a rebel in Japan, but he has manners.
“Skateboarding became one of the sports at the Olympics, but the image of skateboarding in Japan is that it’s an activity for unruly kids,” he said.
So as evening fell on a warm summer day last year, Hayakawa, 45, carried his board in the crook of his wrist. He left home in central Tokyo and took the subway to Kanegafuchi Station, a half-hour train ride north of downtown, and walked about 15 minutes toward the Sumida River.
The streets and sidewalks were mostly empty. Yet his skateboard still never touched the ground.
relegated to the unkempt shadows of Japanese society — far more hidden and distrusted than in other places around the globe.
Expectations are high. Hayakawa expects Japan to capture at least six of the sport’s 12 medals, including multiple golds.
It is sure to be a strange but exciting time for Hayakawa and others of an older generation, the grown-up misfits most deeply connected to the culture of skateboarding in Japan.
“For my old friends, we want to show that what we did was not wrong,” Hayakawa said. “For the newcomers, who come to skateboarding because of the Olympics, I explain that our culture is cool. We are why they are competing.”
After an hour or so under the viaduct, the red sun swallowed by a distant skyline just starting to sparkle, Hayakawa glowed with sweat. He flipped his skateboard back into his hands and retreated all the way to the station. Then he rode the next train home, carrying his own set of wheels under his arm.
“People gradually see skateboarding as a sport,” Hayakawa said. “But most people will not understand that the counterculture side is the real skateboarding.”
Kantaro Suzuki contributed reporting.
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“This is about getting the best, optimal delivery vehicle for us,” Mr. Wake said.
Globally, UPS operates a fleet of about 120,000 vehicles, and around 13,000 of them use alternatives to diesel engines such as batteries.
In addition to UPS, BlackRock and the South Korean automakers Hyundai and Kia have invested in Arrival.
Electric vehicle companies have attracted frenzied interest from investors, who hope to find the next Tesla, which is valued at more than $650 billion, more than G.M., Ford Motor, Toyota Motor and Volkswagen combined. Wall Street’s interest has encouraged a parade of fledgling companies — some, including Arrival, that are not yet selling vehicles, let alone making a profit — to list their shares on the stock exchange.
A few have already disappointed investors. The stock of Nikola, which is trying to develop heavy trucks powered by batteries and hydrogen fuel cells, plunged after a small investment firm, Hindenburg Research, said the company had exaggerated its technological abilities. Nikola denied wrongdoing but acknowledged in a February securities filing that some of what it had previously said about its vehicles and technology was inaccurate.
The Securities and Exchange Commission is investigating Nikola and another company, Lordstown Motors, which aims to make electric pickup trucks. Hindenburg also published a report about Lordstown, accusing it of exaggerating interest in its trucks and its production abilities. Lordstown denies Hindenburg’s claims.
Many E.V. start-ups have acquired stock listings by merging with special purpose acquisition companies, or SPACs — businesses set up with a pot of cash and a stock listing. Such mergers allow start-ups to join the stock market without the scrutiny of an initial public offering of stock.
Arrival completed its merger with a SPAC in March. But it remains a long way from turning its vision into a viable business. It has assembled a few prototype vans but has not yet begun testing them on public roads. The company’s shares started trading on March 25 at $22.40 but have since fallen to about $14.