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Rivian says it's on track for $250 million Uber funding by year-end, R2 demand strong
Rivian said the R2 outsold its other models in its first full quarter and that Uber funding could unlock a $250 million tranche.
- On Thursday, Rivian CEO RJ Scaringe said the company is "very confident" it will hit an autonomy milestone this year, unlocking a $250 million tranche of Uber's investment while citing strong R2 compact SUV demand.
- Uber is investing up to $1.25 billion in Rivian through 2031 to support the company's push to narrow heavy losses while funding self-driving technology and its joint venture with Volkswagen.
- The R2 model outsold Rivian's other vehicles in its first full quarter, helping record 19,248 deliveries. Scaringe told Reuters, "We're still early in the ramp" as production expands.
- Scaringe dismissed reports of software integration trouble with Volkswagen as "noisy," describing the relationship as "very positive" while the German automaker prepares to license Rivian's AI assistant technology.
- The partnership targets a 2028 launch of driverless R2 robotaxis across 25 cities on Uber's network, with cheaper $45,000 trim variants expected next year.
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Rivian says it's on track for $250 million Uber funding by year-end, R2 demand strong
Rivian CEO RJ Scaringe said on Thursday the EV maker is "very confident" it will hit an autonomy milestone this year that unlocks a $250 million tranche of Uber's investment, and that demand for its new R2 compact SUV was strong.
·London, United Kingdom
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Total News Sources3
Leaning Left0Leaning Right1Center2Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
C 67%
R 33%
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