DJ Novotney, a prominent Apple executive, has left the company for Rivian Automotive Inc.

Novotney was integral to the development of Apple's major products and the electric Apple Car.

His new role at Rivian will be as the Senior Vice President of vehicle programs.

The departure signifies a continuing trend of high-level executives exiting Apple.

Apple's electric car project is anticipated to face delays until at least 2028 with potential downscaling of autonomous features.

Rivian benefits from Novotney's move, experiencing a stock price increase of 1.93%.

Meanwhile, Apple's stock saw a slight decline of 0.90% following the news of Novotney's exit.