Rivian Automotive, Inc.

Uber will invest up to $1.25 billion in Rivian through 2031 tied to milestones and plans to deploy 10,000 fully autonomous R2 robotaxis in an initial phase (San Francisco and Miami targeted for 2028) with expansion to 25 more cities by 2031 and an option to buy up to 40,000 additional R2s from 2030. The partnership includes licensing fees for Rivian's autonomous driving software, creating a recurring high-margin revenue stream beyond vehicle sales. The deal positions Rivian to capture robotaxi-driven value similar to what analysts attribute to Tesla's valuation potential. » Mere på finance.yahoo.com

At the Goldman Sachs conference Rivian reported strong early demand and pre-order conversion rates for the R2 that exceeded expectations, and said customer feedback is positive. The company expects additional ramp-up costs in Q3 2024 but, based on the exit rate, is targeting a positive gross margin in its automotive business for Q4 2024 and held about $14 billion in cash at the end of Q2 2024. Rivian said validation of its in-house RAP1 chips is nearly complete and plans to introduce Gen‑3 hardware at the end of 2026; the point-to-point feature is expected to be available by the end of 2024. » Mere på de.investing.com

Rivian’s micromobility spinoff Also apologized for months-long delays to TM-B customer deliveries, attributing the hold-up to strict quality standards rather than rushing an unfinished product. The company faces shortages of PCBs and integrated circuits linked to the AI boom, battery power-delivery issues that exceed current regulations, and complex, high-precision requirements for its DreamRide pedal-by-wire drivetrain. Also says it chose to maintain higher standards during production ramp-up and acknowledged it should have communicated delays more clearly to reservation holders. » Mere på theverge.com