BUZZ-Rivian rises after hiring Volvo exec Varela as operations chief

Reuters05-03

** Shares of EV startup Rivian Automotive rise 2.2% to $10.05

** Co names Swedish truck maker Volvo's deputy CEO and COO Javier Varela as its COO

** Varela will join RIVN in August after an eight-year stint at Volvo

** On Thursday, RIVN said it received $827 mln in an incentive package from the State of Illinois to expand operations at its Normal facility

** YTD, stock down 56.9%

(Reporting by Puyaan Singh)

((Puyaan.Singh@thomsonreuters.com;))

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