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EV maker Rivian (RIVN) announced Friday it has hired Dr. Kjell Gruner as chief commercial officer (COO) and president of business growth. Gruner brings over 25 years of auto experience to Rivian, most recently serving as CEO of Porsche Cars North America.

Rivian hires ex-Porsche, Mercedes-Benz exec as COO

Gruner started at Rivian on Friday and will report directly to CEO RJ Scaringe. He will oversee the EV maker’s commercial operations, such as sales, marketing, delivery, service, fleet, and delivery.

The executive has over 25 years of experience, including at Porsche and Mercedes-Benz/Daimler.

Before joining Porsche Cars North America, Gruner was Porsche’s global vice president of marketing and chief marketing officer. At Porsche, Gruner oversaw global brand development, including marketing and product.

Prior to that, Gruner worked as the director of strategy at Mercedes-Benz Cars for over six years. He also serves on the board of LiveWire, the electric motorcycle division of Harley-Davidson.

Scaringe commented on the hiring, saying:

We are very happy to welcome Kjell to the Rivian team as Chief Commercial Officer and President, Business Growth. We will rely on Kjell’s talent and experience as we position ourselves for growth domestically and internationally, the launch of a new platform in R2 at a new facility, and the continued success of our commercial vehicle line. I look forward to working closely together as we tackle this next great wave of opportunity.

Gruner joins Rivian at a critical time as the EV maker ramps up production and works to increase profitability.

Rivian-Porsche
Rivian R1S (Source: Rivian)

Rivian crushed expectations in the second quarter, delivering 12,640 models while producing 13,992 EVs at its Normal, Illinois facility. In addition, its electric delivery vans, used by Amazon, arrived in Europe in July, spearheading the EV maker’s international expansion.

The EV maker introduced its in-house Enduro drive units, with Rivian’s cheaper “Dual Motor” and “Performance Dual Motor” appearing in the R1 shop in July.

Rivian-electric-delivery-vans-Europe
Rivian EDV for European markets (Source: Rivian)

The new in-house components are helping to streamline production while reducing expenses. Rivian said the Enduro drive units and LFP battery packs have reduced input costs on its EDV by roughly 25%.

Rivian’s gross profit per vehicle improved by $35,000 during the second quarter as the EV maker worked to increase profitability.

Rivian-Porsche
Rivian R1T (Source: Rivian)

Overall, the EV maker’s losses continue to shrink with a net loss of (-$1.12 billion) in Q2 compared to (-$1.7 billion) last year and (-$1.4 billion) last quarter. After the strong performance, Rivian raised its production guidance for the year to 52,000 units.

Electrek’s Take

Gruner is joining Rivian as the EV maker hits a “turning point” in production. Wedbush analyst Dan Ives, known for his Tesla coverage, said Rivian was hitting “a major turning point” after Q2, raising his price target as a result.

More recently, Ives said he sees Rivian as “one of the core EV players over the next decade.” Gruner brings valuable marketing and brand development experience from Porsche and Mercedes-Benz that can help Rivian as it expands the brand during a crucial period.

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Paris’ popular bike share program has a big sticky finger problem

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Paris' popular bike share program has a big sticky finger problem

Paris’ bike-share system, Vélib has long been considered one of the shining success stories of urban micromobility. With a massive fleet of over 20,000 pedal and electric-assist bicycles around Paris, the service has helped millions of residents and tourists get around the City of Light without needing a car or scooter. But lately, a growing problem is threatening to knock the wheels off this urban mobility marvel: theft and joyriding.

According to city officials and the service operator, more than 600 Vélib bikes are now going missing every single week. That’s over 30 bikes a day simply vanishing from the system – some stolen outright, others taken on “joy rides” and never returned.

“At the moment we’re missing 3,000 bikes,” explained Sylvain Raifaud, head of the Agemob company that currently operates the Velib system. That’s nearly 15% of over 20,000 Vélib bikes across Paris.

The sticky-fingered culprits aren’t necessarily professional thieves or organized crime rings. Instead, they’re often regular users who treat the shared bikes like disposable toys.

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The city estimates that many people have figured out how to pry the bikes out of the system’s parking docks, unlocking one for a casual cruise and then ditching it somewhere far from a docking station.

Once pried free, the bikes are technically usable for the next 24 hours until their automatic locking feature kicks in. At that point, the bikes are often simply abandoned. Some end up in alleyways. Others get tossed in rivers. A few just disappear completely.

And since the bikes are intended to be parked at their many docking stations around the city, they don’t have GPS chips, further complicating recovery of “liberated” bikes.

The issue started small but has grown into more than an inconvenience – it’s beginning to undermine the entire purpose of the service. With bikes going missing at such a high rate, many Vélib docking stations are left empty, especially during rush hours.

Riders looking for a quick commute or a convenient hop across town are increasingly finding themselves without available bikes, or having to walk long distances to find a functioning one.

That kind of unreliability chips away at user confidence and threatens to drive potential riders back into cars, cabs, or other less sustainable forms of transport at a time when Paris has already made great strides to dramatically reduce car usage in the city.

The losses are financially painful, too. Replacing stolen or vandalized bikes isn’t cheap, and the resources spent on tracking down missing equipment or reinforcing anti-theft measures are stretching thin. Vélib has faced theft and vandalism issues before, especially during its early years, but this latest surge has officials sounding the alarm with renewed urgency.

Officials acknowledge that there’s no easy fix. Paris, like many cities with bike-share systems, walks a fine line between accessibility and accountability. Part of what makes Vélib so successful is its ease of use and widespread availability. But those same features make it vulnerable to misuse – especially when enforcement is limited and the consequences for abuse are minimal.

The timing of the problem is especially unfortunate. In recent years, Paris has seen impressive results in reducing car traffic, expanding bike lanes, and promoting cycling as a key part of its sustainable transport strategy. Vélib is a cornerstone of that plan. But if the system becomes too unreliable, it risks losing the very people it was designed to serve.

Meanwhile, as Parisians increasingly find themselves staring at empty docks, the challenge for the city and Vélib will be to restore confidence in the system without making it harder to use. That means striking the right balance between freedom and responsibility, between open access and protection against abuse.

In a city where cycling is supposed to be the future of mobility, losing thousands of bikes to joyriders and sticky fingers isn’t just frustrating; it’s unsustainable.

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CNBC Daily Open: Elon Musk, founder of companies and political parties

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CNBC Daily Open: Elon Musk, founder of companies and political parties

U.S. President Donald Trump and Elon Musk attend a press event in the Oval Office of the White House in Washington, D.C., U.S., May 30, 2025.

Nathan Howard | Reuters

When they lose a significant other, most men do indeed become a “TRAIN WRECK.” Then they pick up the pieces of their lives and start living again — paying attention to their personal grooming, hitting the gym and discovering new hobbies.

What does the world’s richest man do? He starts a political party.

Last weekend, as the United States celebrated its independence from the British in 1776, Elon Musk enshrined his sovereignty from U.S. President Donald Trump by establishing the creatively named “American Party.”

Few details have been revealed, but Musk said the party will focus on “just 2 or 3 Senate seats and 8 to 10 House districts,” and will have legislative discussions “with both parties” — referring to the U.S. Democratic and Republican Parties.

It might be easier to realize Musk’s dream of colonizing Mars than to bridge the political aisle in the U.S. government today.

To be fair, some thought appeared to be behind the move. Musk decided to form the party after holding a poll on X in which 65.4% of respondents voted in favor.

Folks, here’s direct democracy — and the powerful post-separation motivation — in action.

 — CNBC’s Erin Doherty contributed to this report.

What you need to know today

And finally…

An investor sits in front of a board showing stock information at a brokerage office in Beijing, China.

Thomas Peter | Reuters

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CNBC Daily Open: Most people don’t start a political party after separation

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CNBC Daily Open: Most people don't start a political party after separation

US President Donald Trump, right, and Elon Musk, chief executive officer of Tesla Inc., during a news conference in the Oval Office of the White House in Washington, DC, US, on Friday, May 30, 2025.

Francis Chung | Bloomberg | Getty Images

When they find themselves without a significant other, most men finally start living: They pay attention to their personal grooming, hit the gym and discover new hobbies.

What does the world’s richest man do? He starts a political party.

Last weekend, as the United States celebrated its independence from the British in 1776, Elon Musk enshrined his sovereignty from U.S. President Donald Trump by establishing the creatively named “American Party.”

Few details have been revealed, but Musk said the party will focus on “just 2 or 3 Senate seats and 8 to 10 House districts,” and will have legislative discussions “with both parties” — referring to the U.S. Democratic and Republican Parties.

It might be easier to realize Musk’s dream of colonizing Mars than to bridge the political aisle in the U.S. government today.

To be fair, some thought appeared to be behind the move. Musk decided to form the party after holding a poll on X in which 65.4% of respondents voted in favor.

Folks, here’s direct democracy — and the powerful post-separation motivation — in action.

 — CNBC’s Erin Doherty contributed to this report.

What you need to know today

Trump confirms tariffs will kick in Aug. 1. That postpones the deadline by a month, but tariffs could “boomerang” back to April levels for countries without deals. Trump on Friday said letters with “take it or leave it” offers will go out to 12 countries Monday.

U.S. stock futures slipped Sunday. Despite the White House pushing back the return of “reciprocal” tariffs, some investors could be worried trade negotiations would result in higher-than-expected duties. Europe’s Stoxx 600 index dropped 0.48% Friday.

OPEC+ members to increase oil output. Eight members of the alliance agreed on Saturday to hike their collective crude production by 548,000 barrels per day, around 100,000 more than expected.

Elon Musk forms a new political party. On Saturday, the world’s richest man said he has formed a new U.S. political party named the “American Party,” which he claims will give Americans “back your freedom.”

[PRO] Wall Street is growing cautious on European equities. As investors seek shelter from tumult in U.S., the Stoxx 600 index has risen 6.6% year to date. Analysts, however, think the foundations of that growth could be shaky.

And finally…

Ayrton Senna driving the Marlboro McLaren during the Belgian Grand Prix in 1992.

Pascal Rondeau | Hulton Archive | Getty Images

The CEO mindset is shifting. It’s no longer all about winning

https://www.cnbc.com/2025/07/06/the-ceo-mindset-is-shifting-its-no-longer-all-about-winning.html

CEOs today aren’t just steering companies — they’re navigating a minefield. From geopolitical shocks and economic volatility to rapid shifts in tech and consumer behavior, the playbook for leadership is being rewritten in real time.

In an exclusive interview with CNBC earlier this week, McLaren Racing CEO Zak Brown outlined a leadership approach centered on urgency, momentum and learning from failure. 

— Spriha Srivastava

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