Rivian Automotive Inc.’s chief lobbyist Jim Chen is planning to leave the Irvine-based company, the Wall Street Journal reported.
A former Tesla Inc. executive, Chen pushed state officials to allow Rivian (Nasdaq: RIVN) to sell directly to consumers, according to the WSJ.
Chen reportedly is expected to leave Rivian at the end of February.
Shares in Rivian closed up 11.5% at $18.10 apiece for a market cap of $16 billion.
Shares of other EV makers also jumped today, including Lucid Group Inc., up 13%, Tesla Inc., up 7.7%, and Nio Inc., up 8.9%. Citigroup analyst Itay Michaeli today issued a “bullish” buy rating on Lucid, according to Market Watch.
