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Rivian targets year-end autonomous-driving milestone for Uber tranche

AI summary

Rivian CEO RJ Scaringe said the company was “very confident” it would reach an autonomous-driving milestone by the end of the year, potentially unlocking a $250 million installment from Uber. The report, published by 36氪 and citing Sina Finance, did not specify the milestone or provide supporting technical details. Scaringe also said demand for Rivian’s compact R2 SUV was strong, a company claim that was not independently verified.

In-depth insight

The milestone is tied to a material $250 million funding installment for Rivian as it balances cash preservation, loss reduction, autonomous-driving investment, and revenue from its Volkswagen joint venture.

#Rivian#Uber#R2

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