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Rivian Recalls Basically Every Vehicle It Has Ever Made
David Shultz
David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.
On Friday evening, Rivian Automotive announced a recall on nearly every single vehicle it has produced so far.
According to documentation filed with the Nation Transportation and Highway Safety Administration, “The fastener connecting the front upper control arm and steering knuckle may have been improperly tightened … A loose steering knuckle fastener could separate, causing a loss of vehicle control and increasing the risk of a crash.”
The recall affects 12,212 total vehicles spanning the R1S, R1T and delivery van platforms. In layman's terms, the car’s suspension system has a loose bolt that can make the ride harsher or even result in a loss of steering control for the driver.
While undoubtedly bad news for the EV hopeful, the company has stated that there have been no reported injuries due to the defect. The fix for the problem–essentially just tightening the bolt–also appears to be simple and relatively cheap for Rivian to execute.
For context, recalls are relatively commonplace in the automotive industry. Though it’s also worth mentioning that EV startups have been particularly susceptible to them due to the sheer quantity of new technology and engineering in each car. To that end, Toyota also recently had to pause production on its new EV, the bz4x, over safety concerns related to the wheels coming loose. The Chevy Bolt has also faced its share of recall issues.
Nonetheless, this is Rivian’s third recall since May of this year. The company has previously had issues with airbags and seat belt anchors that required maintenance. Whether these three issues represent a concerning pattern or just normal growing pains for a company that only delivered its first vehicle 13 months ago remains to be seen, but the latest recall has taken its toll on the company’s stock, which is down nearly 8.5% by early afternoon Monday.
David Shultz
David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.
Top LA Accelerators that Entrepreneurs Should Know About
02:05 PM | July 17, 2024
Los Angeles, has a thriving startup ecosystem with numerous accelerators, incubators, and programs designed to support and nurture new businesses. These programs provide a range of services, including funding, mentorship, workspace, networking opportunities, and strategic guidance to help entrepreneurs develop their ideas and scale their companies.
Techstars Los Angeles
Techstars is a global outfit with a chapter in Los Angeles that opened in 2017. It prioritizes local companies but will fund some firms based outside of LA.
Location: Culver City
Type of Funding: Pre-seed, early stage
Focus: Industry Agnostic
Notable Past Companies: StokedPlastic, Zeno Power
Grid110
Grid110 offers no-cost, no-equity programs for entrepreneurs in Los Angeles, including a 12-week Residency accelerator for early-stage startups, an Idea to Launch Bootcamp for pre-launch entrepreneurs, and specialized programs like the PledgeLA Founders Fund and Friends & Family program, all aimed at providing essential skills, resources, and support to help founders develop and grow their businesses.
Location: DTLA
Type of Funding: Seed, early stage
Focus: Industry Agnostic
Notable Past Companies: Casetify, Flavors From Afar
Idealab
Idealab is a renowned startup studio and incubator based in Pasadena, California. Founded in 1996 by entrepreneur Bill Gross, Idealab has a long history of nurturing innovative technology companies, with over 150 startups launched and 45 successful IPOs and acquisitions, including notable successes like Coinbase and Tenor.
Location: Pasadena
Type of Funding: Stage agnostic
Focus: Industry Agnostic, AI/Robotics, Consumer, Clean Energy
Notable Past Companies: Lumin, Coinbase, Tenor
Plug In South LA
Plug In South LA is a tech accelerator program focused on supporting and empowering Black and Latinx entrepreneurs in the Los Angeles area. The 12-week intensive program provides early-stage founders with mentorship, workshops, strategic guidance, potential pilot partnerships, grant funding, and networking opportunities to help them scale their businesses and secure investment.
Location: Los Angeles
Type of Funding: Pre-seed, seed
Focus: Industry Agnostic, Connection to South LA and related communities
Notable Past Companies: ChargerHelp, Peadbo
Cedars-Sinai Accelerator
The Cedars-Sinai Accelerator is a three-month program based in Los Angeles that provides healthcare startups with $100,000 in funding, mentorship from over 300 leading clinicians and executives, and access to Cedars-Sinai's clinical expertise and resources. The program aims to transform healthcare quality, efficiency, and care delivery by helping entrepreneurs bring their innovative technology products to market, offering participants dedicated office space, exposure to a broad network of healthcare entrepreneurs and investors, and the opportunity to pitch their companies at a Demo Day.
Location: West Hollywood
Type of Funding: Seed, early stage, convertible note
Focus: Healthcare, Device, Life Sciences
Notable Past Companies: Regard, Hawthorne Effect
MedTech Innovator
MedTech Innovator is the world's largest accelerator for medical technology companies, based in Los Angeles, offering a four-month program that provides selected startups with unparalleled access to industry leaders, investors, and resources without taking equity. The accelerator culminates in showcase events and competitions where participating companies can win substantial non-dilutive funding, with the program having a strong track record of helping startups secure FDA approvals and significant follow-on funding.
Location: Westwood
Type of Funding: Seed, early stage
Focus: Health Care, Health Diagnostics, Medical Device
Notable Past Companies: Zeto, Genetesis
KidsX
The KidsX Accelerator in Los Angeles is a 10-week program that supports early-stage digital health companies focused on pediatric care, providing mentorship, resources, and access to a network of children's hospitals to help startups validate product-market fit and scale their solutions. The accelerator uses a reverse pitch model, where participating hospitals identify focus areas and work closely with selected startups to develop and pilot digital health solutions that address specific pediatric needs.
Location: East Hollywood
Type of Funding: Pre-seed, seed, early stage
Focus: Pediatric Health Care Innovation
Notable Past Companies: Smileyscope, Zocalo Health
Disney Accelerator
Disney Accelerator is a startup accelerator that provides early-stage companies in the consumer media, entertainment and technology sectors with mentorship, guidance, and investment from Disney executives. The program, now in its 10th year, aims to foster collaborations and partnerships between innovative technology companies and The Walt Disney Company to help them accelerate their growth and bring new experiences to Disney audiences.
Location: Burbank
Type of Funding: Growth stage
Focus: Technology and entertainment
Notable Past Companies: Epic Games, BRIT + CO, CAMP
Techstars Space Accelerator
Techstars Space Accelerator is a startup accelerator program focused on advancing the next generation of space technology companies. The three-month mentorship-driven program brings together founders from across the globe to work on big ideas in aerospace, including rapid launch services, precision-based imaging, operating systems for complex robotics, in-space servicing, and thermal protection.
Location: Los Angeles
Type of Funding: Growth stage
Focus: Aerospace
Notable Past Companies: Pixxel, Morpheus Space
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CrowdStrike CEO Says He Regrets Not Firing People Quicker
03:10 PM | March 04, 2020
Ben Bergman/dot.LA
George Kurtz, co-founder and CEO of the cloud-native endpoint security platform CrowdStrike, says executives should be obsessed with culture. Everyone below him must be fanatical about customer success and outcome and if they aren't fitting in, they need to go quickly. It's one of the biggest lessons he's learned as CEO.
"Not one time have I regretted firing someone too fast," Kurtz told a lunchtime crowd at the first day of the Montgomery Summit in Santa Monica. "It's that I waited too long."
Kurtz founded the company in Sunnyvale, CA, in 2011 and it went public last year. He was joined on a panel by John Chambers, the former executive chairman and CEO of Cisco Systems, who said he bought 180 companies during his tenure. But he did not acquire a company that was not a very close cultural fit.
"I walked on one of the bigger acquisitions we were going to do," Chambers said. "Culture is as important as strategy and vision and I did not understand that when I was a young CEO."
Chambers said he was proud of Cisco's 95% employee retention rate when he was CEO, which is well above the industry average. He oversaw a rigorous hiring process to make sure candidates were right.
"If you're not interviewing through 10 people, you're not doing the screening process properly," Chambers said.
If an executive wanted to jump to a competitor, he would try to find out what was at the root of someone's unhappiness. The number one factor: Dissatisfaction with their immediate supervisor.
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Ben Bergman
Ben Bergman is the newsroom's senior finance reporter. Previously he was a senior business reporter and host at KPCC, a senior producer at Gimlet Media, a producer at NPR's Morning Edition, and produced two investigative documentaries for KCET. He has been a frequent on-air contributor to business coverage on NPR and Marketplace and has written for The New York Times and Columbia Journalism Review. Ben was a 2017-2018 Knight-Bagehot Fellow in Economic and Business Journalism at Columbia Business School. In his free time, he enjoys skiing, playing poker, and cheering on The Seattle Seahawks.
https://twitter.com/thebenbergman
ben@dot.la
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